When public enterprises become commercialized, it means that?

Assessment: JAMB UTME - Economics - 1995 Subject: Economics

Question 1 Report

When public enterprises become commercialized, it means that?
Answer Details
When public enterprises become commercialized, it means that they are expected to operate with the primary aim of making profits. This is because commercialization refers to the process of converting public enterprises that were initially created and run by the government for public service to profit-oriented entities that are self-sustaining and operate based on market forces and competition. Therefore, public enterprises are expected to generate revenue, cover their costs, and make a profit. This approach is intended to increase the efficiency and productivity of these enterprises and ensure their sustainability over time.
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