1.2d - Public and Private Sector Flashcards

1
Q

What businesses are in the private sector?

A

Ones owned and run by private individuals

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2
Q

Why would a business be privatised?

A
  • Improve efficiency
  • Country gains revenue from selling the business
  • Meet needs of shareholders
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3
Q

What businesses are in the public sector?

A

Any business owned and operated by the government

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4
Q

Examples of public sector businesses:

A
  • Education
  • Health care
  • Emergency services
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5
Q

What are public sector businesses also known as?

A

Nationalised industries

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6
Q

Examples of regulatory bodies that monitor nationalised businesses:

A
  • Ofwat
  • Ofcom
  • Ofqual
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7
Q

Nationalisation definition

A

When a private sector business is taken over by the government and moves into the public sector

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8
Q

Reasons nationalisation happens:

A
  • Government can ensure essential services are provided and available to all
  • Protect struggling industries
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