The taking over by state of ownership and control of certain business enterprises is known as?

Answer Details

The taking over by the state of ownership and control of certain business enterprises is known as nationalization. Nationalization is a process in which the government takes control of privately-owned businesses or industries and makes them public or state-owned. The reasons for nationalization may vary, but they often include the desire to promote public welfare, ensure economic stability, or protect national interests. The industries that are often nationalized include those that are essential to the economy or those that provide vital services such as utilities, transportation, or telecommunications. When an industry or business is nationalized, the government assumes full ownership and control. This means that the state is responsible for managing and regulating the operations of the business, including the hiring of employees, setting prices, and making investment decisions. Therefore, the correct answer is nationalization.