When a government acquires business enterprises formerly owned by individuals, it is termed?

Assessment: WAEC SSCE - Commerce - 2015 (Objective) Subject: Commerce

Question 1 Report

When a government acquires business enterprises formerly owned by individuals, it is termed?

Answer Details
When a government acquires business enterprises formerly owned by individuals, it is termed "nationalization." Nationalization is a process whereby the government takes control of privately owned businesses and makes them public property. This can occur for various reasons, such as to increase state control over certain industries, to protect national interests, or to provide essential services to citizens. When the government takes over a business through nationalization, it assumes ownership and control of its operations, assets, and liabilities.
View Answer

Related Questions

1

Which of the following aids to trade facilitates production ahead of demand
2

Dividing the market for a product according to potential buyers who have common characteristics is?
3

Which of the following means of payment makes the bank both the drawer and drawee
4

How many countries make up the River Niger Basin commission
5

The practice of giving a particular name to a product by a manufacturer is
6

The insurance services rendered to a foreign shipping company are treated as?
7

An extra commission paid to an agent who guarantees credit sales made by him is?
8

A professional in insurance who evaluates the level of loss claims is

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning