which of the following will ensure efficiency in the in the industrial sector of your country?
Answer Details
Privatisation can ensure efficiency in the industrial sector of a country.
Privatisation refers to the process of transferring ownership and control of state-owned enterprises to private individuals or entities. When this happens, private owners have a profit motive that incentivizes them to maximize efficiency and productivity in order to increase profits. This can result in increased competition, innovation, and investment, which can ultimately lead to improved efficiency in the industrial sector.
On the other hand, nationalization and indigenization involve the transfer of ownership and control of industries from private individuals or entities to the state or indigenous people, respectively. While these may be important for social or political reasons, they can often result in inefficiencies due to lack of competition and the potential for political interference in management decisions.
Finally, liquidation involves the closure of a business, which is not a desirable outcome for the industrial sector as it can lead to job losses and economic decline.
Therefore, privatisation is the best option for ensuring efficiency in the industrial sector of a country.