Question

What is the meaning of Privatization?​

Answer 1

Answer:

The transfer of ownership, property or business from the government to the private sector is termed privatization.

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Answer 2

The transfer of ownership, property or business from the government to the private sector is termed privatization. The government ceases to be the owner of the entity or business. The process in which a publicly-traded company is taken over by a few people is also called privatization.