Question

Privatisation refers to __________________.

• A. The transfer of assets or service functions from public to private ownership or control
• B. The opening of hitherto closed areas to Private Sector entry
• C. Both (a) and (b)
• D. Neither (a) nor (b)

Answer 1

The correct option is C Both (a) and (b)

Privatization refers to -a) The transfer of assets or service functions from the public to private ownership or control

b) The opening of hitherto closed areas to Private Sector entry

In simple words, Privatization can be defined as a process of transferring ownership of an enterprise or industry from the public to the private sector.
Hence, C is the correct option.