What Is the Difference Between Privatization and Profitization

question 15

Essay

What is the difference between privatization and profitization?

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Definitions:

Opportunity Cost

Opportunity cost represents the value of the best alternative that must be forgone as a result of choosing a particular action or decision over others.

Labor-saving Devices

Tools, machines, or systems that reduce the amount of labor needed to perform a task or produce a good.

Proprietor's Income

The income earned by the owners of unincorporated businesses for their labor and capital investment.

Salary

A fixed regular payment, usually expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker.