Which of the following movements started in Great Britain in the early 1980s when then Prime Minister Margaret Thatcher started
to sell state-owned assets such as the British telephone company? A. Nationalization
B. Privatization
C. Anti-democratic
D. Communist
E. Anti-globalization
The transition of government ownership or business to the private sector is called privatization. The proponents of privatization emphasize that the profit earning behavior of new managers in the private sector would lead to cost reductions and better attention to customer satisfaction in the roles that are privatized.
As per the question, The selling of state-owned assets to private telephone company is an example of privatization.
