Question

What is meant by privatisation?

• A. Giving up of public sector enterprises
• B. Transforming all economic activities from public to private sector
• C. Allowing private companies to run the country
• D. None of these

Answer 1

The correct option is B Transforming all economic activities from public to private sector

Privatisation can refer to the act of transferring ownership of specified property or business operations from a government organization to a privately owned entity, as well as the transition of ownership from a publicly traded, or owned, company to a privately owned company. For a company to be considered privately owned, it cannot secure funding through public trades on a stock exchange.