Most Nations Recognize That Private Enterprise Is Detrimental to Business

question 304

True/False

Most nations recognize that private enterprise is detrimental to business growth and what is best for consumers.Recently,a nation had the opportunity to sell its government-owned telecommunication system to a private firm.Instead it realized that it would be better off if it raised taxes so that it could maintain the status quo.
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Definitions:

Capital

Assets such as machinery, buildings, or technology used in the production of goods and services.

Labor

The human effort, both physical and mental, used in the production of goods and services.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.

Oil Reserves

Quantities of crude oil that are discovered and confirmed by geologic and engineering information to be commercially recoverable under existing economic and operating conditions.