To bring under the ownership or control of a nation.
What is nationalization
100
The good or service is provided at a cheaper rate.
What is an advantage of State Corporations
100
Lack of competition among businesses which decreases the will to develop and increase production.
What is a disadvantage of Nationalization and State Corporations
100
This is formed by a government out of necessity to serve some public purpose by an act of Parliament because the services required are not usually undertaken by private investors.
How is a State Corporation formed.
100
The Jamaica Urban Transit Company (JUTC)
What is an example of a State-owned Corporation
200
The part of the economy that is concerned with providing basic government services.
What is the Public Sector
200
The government can invest money and make their service more efficient.
What is an advantage of Nationalization
200
This is the result of favouring a particular person or business because of the influence of the government so therefore treat certain people better than others such as offering jobs to only international workers and reject the locals.
What is favouritism
200
A private industry or asset that has been converted into a public ownership as a result of the national government purchasing it.
How are businesses nationalized
200
The Jamaica Producers Group Limited
What is an example of a nationalized business
300
A business enterprise owned and controlled by the state.
What is a State Corporation
300
A business owned, controlled and run by the government will stop consumers from being exploited.
What is an advantage of Nationalization
300
Losses must be payed by the tax payers.
What is a disadvantage of State Corporations
300
The entire capital is financed by the government and they are entitled to borrow,use and re-use revenue from the sale of goods and services.