A Midwestern city negotiates a deal with a company to operate its parking meter system. The city will receive a lump sum payment
of several million dollars, and the company will have the rights to operate, maintain, and collect the revenue from the parking meters. This is an example of _______.
According to my research on different business strategies, I can say that based on the information provided within the question this is an example of privatization. This term refers to the process of transferring an enterprise or industry from the public sector to the private sector. In this situation the industry being transferred are the Parking Meter Systems.
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