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WAEC Commerce 2024 Question 45

Question 45

Government and Business

A reason for the privatization of the petroleum industry is to

  1. A.reduce production of petroleum products.
  2. B.reduce private businesses in the sector.
  3. C.encourage private businesses in the sector.
  4. D.control production in the sector.
Show the answer and explanation

Answer: C (encourage private businesses in the sector.)

Explanation

Privatization hands businesses to private owners, so it encourages private firms in the sector.