What is privatization ? Explain the following arguments favouring priv

1.	What is privatization ? Explain the following arguments favouring privatization :(i) Greater flexibility in decision making.(ii) Better utilization of resources.(iii) Greater employment opportunities.
Answer» Privatisation : Privatisation is the process of transferring an enterprise or industry from the public sector to the private sector. The public sector is the part of the economic system that is run by government agencies. (i) Privatization allows better flexibility in decision making as the owners are encouraged and are empowered to take their own decisions. (ii) Privatisation allows better utilisation of resources because competing private firms are able to perform better as they have larger resources to work upon. (iii) Privatization allows greater employment opportunities as people of different age,gender nationality etc are able to perform their best as chances of getting a job would be higher.

What is privatization ? Explain the following arguments favouring privatization :(i) Greater flexibility in decision making.(ii) Better utilization of resources.(iii) Greater employment opportunities.

Answer»

Privatisation : Privatisation is the process of transferring an enterprise or industry from the public sector to the private sector. The public sector is the part of the economic system that is run by government agencies.

(i) Privatization allows better flexibility in decision making as the owners are encouraged and are empowered to take their own decisions.

(ii) Privatisation allows better utilisation of resources because competing private firms are able to perform better as they have larger resources to work upon.

(iii) Privatization allows greater employment opportunities as people of different age,gender nationality etc are able to perform their best as chances of getting a job would be higher.

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