Glossary
N
Nationalization
Criticality: 3
The process by which a government takes ownership and control of private organizations or industries.
Example:
Facing a severe energy crisis, the government decided on the nationalization of all major oil companies to ensure public access and control over resources.
P
Privatization
Criticality: 3
The process of transferring ownership of state-owned enterprises from the government to private individuals or companies.
Example:
After years of government control, the national airline was put up for sale, leading to its privatization and operation by a private consortium.