5 Public Corporations Flashcards
1
Q
productivity
A
Rate at which goods are produced, and the amount produced, especially in relation to the work, time and money needed to produce them
2
Q
Public corporations
A
Business organisations owned and controlled by the state/governement
3
Q
infrastructure
A
basic systems and structures that a country or organisation needs in orde to work properly
4
Q
natural monopoly
A
market where it is more efficient to have just one organisation meeting total market demand
5
Q
subside
A
paying part of the costs (often by the government in business)
6
Q
privatisation
A
transfer of public sector resources to the private sector (business)