Question

Who owns and controls resources when they are nationalized?

a. the government
b. private businesses
c. foreign companies
d. international organizations

Answer 1

Generally speaking, it is the "government" that owns and controls resources when they are nationalized, since these are now part of the welfare of the "nation" as a whole. 

Answer 2

The first alternative is correct (A).

The Government is responsible for the control of resources that are nationalized. To ensure the protection of nationalized resources, the Government normally uses state-owned enterprises, that is, that are run by the State. These companies are responsible for managing the resources in a manner that secures the interests of the nation. Another way to manage nationalized resources is through the concession to the private sector, but as a supervision of competent regulatory bodies that guarantee the protection of national interests.

Typically, nationalization of resources occurs when resources are scarce or strategic, such as oil.