IGCSE 1.1.5 The Mixed Economy

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What is privatization?

Privatization refers to the transfer of ownership of a company from the public sector to the private sector.

Outline TWO advantages of privatization.

Innovation, Increased efficiency, Reduced government spending, Reduced political influence

Outline TWO disadvantages of privatization.

Reduced quality of service, increased prices for customers, job losses, loss of public control, increased inequality

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