In Several Western Democracies, the Poor Performance of State-Owned Enterprises

question 37

Multiple Choice

In several Western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to

• A) privatization.
• B) nationalization.
• C) liberalization.
• D) socialization of production.

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Definitions:

Employment

The state of having a paid job or the total number of people employed within an economy.

Market Pricing

The process of determining the price of a product or service based on supply and demand dynamics in the market.

Excess Supply

The situation where the quantity of a good or service supplied is greater than the quantity demanded at the current price.

Product Price

The amount of money required to purchase a good or service, often influenced by various factors like production costs, market demand, and competition.