Question

The transfer of ownership from public sector to private sector is called _______.

• A. globalization
• B. liberalization
• C. privatization
• D. all of the above

Answer 1

The correct option is C privatization

Privatization, may have several meanings. Primarily, it is the process of transferring ownership of a business, enterprise, agency, public service, or public property from the public sector(a government) to the private sector, either to a business that operates for a profit or to a non-profit organization.
It may also mean the government outsourcingof services or functions to private firms, e.g. revenue collection, law enforcement, and prison management.