Privatisation Flashcards
1
Q
Privatisation definition
A
The selling of a state owned industry to the private sector
2
Q
Benefits of privatisation
A
-short term revenue for gov
-gov can spend money elsewhere eg education
-more competition = better quality = customer benefits
3
Q
Disadvantages of privatisation
A
-may be profit driven so raise prices
-monopoly risk
-can’t guarantee improvement
-hard to check quality
