Question

With reference to international political economy, can you identify the following concepts and terms, or provide the required answer: Nationalization & Privatization

a. Nationalization: A process where countries cooperate to establish common economic policies. Privatization: The pursuit of self-sufficiency in economic policies.
b. Nationalization: The transfer of state-owned assets to private ownership. Privatization: The transfer of private assets to state ownership.
c. Nationalization: The process of creating a single global currency. Privatization: The decentralization of economic decision-making.
d. Nationalization: State ownership of assets or industries. Privatization: Transfer of state-owned assets or industries to private ownership.

Answer 1

The correct answer is option d. Nationalization and privatization are concepts in international political economy that involve the transfer of assets between public and private ownership. Nationalization involves transferring state-owned assets to public ownership, while privatization involves transferring state-owned assets to private ownership.

Step-by-step explanation:

Nationalization and privatization are concepts in international political economy that refer to the ownership and control of economic assets. Nationalization involves the transfer of state-owned assets or industries to public ownership, while privatization involves the transfer of state-owned assets or industries to private ownership.

Nationalization is often done by governments to assert control over key industries, while privatization is often pursued to increase efficiency and promote economic growth.