When an industry is nationalized, ownership belongs to the

Assessment: WAEC SSCE - Commerce - 1997 (Objective) Subject: Commerce

Question 1 Report

When an industry is nationalized, ownership belongs to the
Answer Details
When an industry is nationalized, ownership of the industry is transferred from private investors or shareholders to the state. This means that the industry is taken over by the government and is run by the state, rather than being privately owned and operated. Nationalization is often carried out in order to ensure that a particular industry is being run in the best interests of the country, rather than solely for the benefit of private investors.
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