Question

Define term Privatization. Explain its positive and negative impact on common person life as well as

point of view of economics.​

Answer 1

Answer:

Privatization occurs when a government-owned business, operation, or property becomes owned by a private, non-government party. Note that privatization also describes the transition of a company from being publicly traded to becoming privately held. This is referred to as corporate privatization.

Explanation:

Answer 2

Answer:

privatisation of the process in which the government owned companies are sold to private companies

the positive impact of privatisation are as follows

• improve the quality of life
• causes good to the rich and wealthy people
• there is Greater choice of goods and the price also reduces

the negative impact of privatisation are as follows

• the number of jobs are reducing day by day
• only the skilful person will get job rest will remain unemployed
• this will increase poverty
• sometimes the common man cannot afford the high cost services provided by privatization like big hotels, restaurants hospitals ,private schools