An economy policy which encourages governement ownership of business is called?
Answer Details
The correct answer is "nationalization". Nationalization is a government policy where private businesses and industries are taken over and run by the state. This policy is usually implemented in strategic industries such as energy, telecommunications, or transportation to ensure that the government has control over key sectors of the economy. Nationalization aims to achieve a number of objectives such as enhancing efficiency, promoting social welfare, and reducing the influence of private interests in the economy. By owning the businesses, the government is able to control the production, pricing, and distribution of goods and services, which can have a significant impact on the overall economy.