The process by which government takes over the ownership and control of an existing private business is?

Assessment: WAEC SSCE - Commerce - 2002 (Objective) Subject: Commerce

Question 1 Report

The process by which government takes over the ownership and control of an existing private business is?
Answer Details
The correct term for the process by which government takes over the ownership and control of an existing private business is called "nationalization". Nationalization involves the transfer of ownership and control of a private enterprise to the government or state. This can be done for various reasons, such as to protect the national interest, ensure efficient delivery of public services, or promote social welfare.
Read lesson note on Legal Aspects Of Business (JAMB)
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