The Process of Converting Government Enterprises into Privately Owned Firms

question 37

Multiple Choice

The process of converting government enterprises into privately owned firms is called ________.

• A) demand
• B) privatization
• C) socialism
• D) entrepreneurship

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Definitions:

Quality Standards

Specific criteria or guidelines used to measure and ensure the excellence of products, services, or processes.

Coordinating Work

The process of organizing tasks and activities to ensure that they are completed efficiently and effectively in collaboration with others.

Project Management

The practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.

Contingency Plans

Preparatory measures or strategies developed to address potential future events or situations that may affect the execution of a plan or project.