Question

A giant telecommunications company that was previously owned by the government of Sunzabia, a European country, is sold to an independent industrialist to ensure that the company is handled in a more efficient way. This scenario exemplifies _____.

Answer 1

The scenario in which giant telecommunications company that was previously owned by the government of Sunzabia, a European country, is sold to an independent industrialist to ensure that the company is handled in a more efficient way exemplifies privatization. 
A publicly traded company (in this case owned by the government of Sunzabia) is bought  by private investors (in this case independent industriailst).