Advantages and Disadvantages of Privatisation?

Answer

Privatization has many advantages and disadvantages. And advantage of Privatization is that private companies will compete to do jobs at the lowest cost, which eliminates waste and inefficiency. Privatization also reduces government spending. A disadvantage of Privatization is that they will hire only the number of workers that are needed to do the work required, meaning that a lot government workers would lose their jobs.
Q&A Related to "Advantages and Disadvantages of Privatisation?"
Answer ADVANTAGES OF PRIVATISATION ·Privatisation places the risk in the hands of business or Private Enterprise. ·Private enterprise is more responsive to customer
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Advantages: productivity per person is increased. Accuracy in terms of time and quality would increase. Only capable / fittest persons would be employed. Prices depend upon the monopoly
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Advantages: The Competition stimulates the economy. Will create more jobs. It will be cheaper than what we pay now in taxes. The companies will still be overseen by the government
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Stereotypes are useful tools if you are in a new situation and need to make quick judgments and fast decisions. For example, if you have never been around a member of royalty or someone
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