Question

Privatization implies reduction in the roll of ________ sector. (Fill in the blank by choosing correct option)
a) Public
b) Private
c) Joint

Answer 1

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$<b>$
(b) Private.

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Answer 2

Answer:

Public

Privatization is the process by which Public institutions are given to private sectors to ensure that they are fully controlled by the private sector.

Explanation:

Advantages of Privatization

• It leads to healthy competition in the market since all the private investors have got the same and equal ground in as far as the marketing is concerned.

• It leads to production of high quality products since the private sector needs to satisfy the public demand to maintain the business.

• It also leads to creation of the job opportunity in the private sector which the government may no be able to achieve in the public sector.

• Privatization also leads to the merging of the business companies and firms to ensure good and amble working relation.