Which of the Following Actions of the Government Indicates the Privatization

question 17

Multiple Choice

Which of the following actions of the government indicates the privatization of an industry?

• A) allowing private businesses to operate in an industry that was previously operated by the government
• B) discouraging private business to operate in an industry that is critical for the growth of the economy
• C) acquiring the market leader to gain control of the industry and its resources
• D) imposing taxes on scarce raw materials to discourage unfair pricing by its suppliers
• E) imposing regulations on multinational businesses to protect local businesses

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Definitions:

Productivity

The efficiency with which an individual, organization, or economy can convert inputs into useful outputs.

Henry L. Gantt

An American mechanical engineer and management consultant famed for developing the Gantt chart, a graphical scheduling tool for project management.

Differential Piece-rate Plan

A compensation system where workers are paid based on the quantity of items produced, with rates varying according to achieved efficiency thresholds.

Minimum Wage

The lowest legal hourly pay for workers, set by government regulation.