Question

State-owned property is privatized. Government gives up a measure of

A) Central planning
B) Market control
C) Economic regulation
D) Ownership and control

Answer 1

When state-owned property is privatized, the government gives up ownership and control of the property, transferring it to private ownership.

Step-by-step explanation:

When state-owned property is privatized, the government gives up ownership and control of the property. This means that the property is transferred from government ownership to private ownership, allowing individuals or private businesses to control and make decisions about the property.

For example, in India, there was a process of privatization in the 1990s where aspects of the large public sector, such as airlines, shipbuilding, and telecommunications, were privatized. This shift to private ownership increased productivity and efficiency, but it also resulted in higher prices and loss of access to services for the public.