Nationalistation

Question 1

Arguments for Nationalisation

Answer 1

Essential industries
Often unprofitable industries
Capital intensive industries
Natural monopolies

Question 2

Problems with nationalisation

Answer 2

Inefficient
Gave no to little consumer choice

Question 3

Nationalised corporations

Answer 3

Are owned and run by government who appoint their chairperson

Question 4

What is privatisation

Answer 4

Tye transfer of productive assets from the public sector to tge private sector

Question 5

Three ways privatisation happens

Answer 5

Denationalisation
Contracting out (where privately run firms are allowed to bid for the supply of key services)
Deregulation ( rules altered)

Question 6

Arguments for privatisation

Answer 6

Lower costs through competition and efficiency
Greater consumer choice
Higher quality products
More innovation
Increase share ownership

Question 7

Arguments against privatisation

Answer 7

Duplication of natural resources
Competition takes a long time to establish
Unemployment
Loss of control to other countries

Question 8

Unemployment rate

Answer 8

4.3%

Question 9

Unemployment

Answer 9

6 million in public secror
33 million in working sector