Question

Private ownership in publicly owned enterprises is termed as ______________.

• A. liberalisation
• B. privatisation
• C. globalisation
• D. none of the above

Answer 1

The correct option is B privatisation

Privatization is the process of transferring ownership of a business, enterprise, agency, public service, or public property from the public sector to the private sector, either to a business that operates for profit or to a nonprofit organization. It may also mean the government outsourcing of services or functions to private firms, for example, revenue collection, law enforcement, and prison management. Privatization may also describe ownership changes not involving the public/government sector.