JAMB Commerce 2020 Objective — Question 23

Question 23 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2020 Objective paper, with the correct answer and a full explanation.

23. Privatization is defined as a

A. A. Transfer of ownership of businesses
B. B. Transfer of ownership of public corporation to private individualsCorrect
C. C. Making business for private people
D. D. Making business profit oriented

Explanation

When the interest of public corporation (owned by tax payers) is sold to private individual, then, such corporation is privatized.

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