What is the term used for government control of key industries?

What is the term used for government control of key industries?

• A. Privatisation
• B. Nationalisation
• C. Liberalisation
• D. Deregulation

Answer: (B)

Nationalisation is the term for government ownership and control of important industries. It means the state owns the assets and makes key decisions about investment, pricing, and operations, rather than private companies running them for profit. This is why it fits the question: it describes government control of essential sectors. For contrast, privatisation means selling state-owned industries to private owners, which reduces or ends direct government control. Liberalisation involves loosening government restrictions to allow more private competition and market freedom, not taking control. Deregulation refers to removing rules to let businesses operate more freely, again reducing government control rather than increasing it.

Nationalisation is the term for government ownership and control of important industries. It means the state owns the assets and makes key decisions about investment, pricing, and operations, rather than private companies running them for profit. This is why it fits the question: it describes government control of essential sectors.

For contrast, privatisation means selling state-owned industries to private owners, which reduces or ends direct government control. Liberalisation involves loosening government restrictions to allow more private competition and market freedom, not taking control. Deregulation refers to removing rules to let businesses operate more freely, again reducing government control rather than increasing it.