An economy policy which encourages government ownership of business is called?

A. privatization
B. nationalization
C. indigenization
D. commercialization

Correct Answer: Option B

B. nationalization

Explanation

Nationalization is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to private assets or assets owned by lower levels of government, such as municipalities, being transferred to the state. The opposites of nationalization are privatization and demutualization.