SS3 First Term Commerce Lesson Note – Commercialization

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WEEK 5

TOPIC: Commercialization

CONTENT:

(a) Meaning of Commercialization and Privatization

(b) Reason for commercialization of Public Enterprises and privatization

(c) Advantages and disadvantages of commercialization.

(d) Meaning of deregulation

(e) Advantages and disadvantages of deregulation

SUB-TOPIC: 1   meaning of commercialization

Commercialization can be defined as a policy geared towards making state-owned enterprises to become more efficient and profit-oriented.

Meaning of Privatization

Privatization on the other hand can be defined as the transfer of management and control of property, business or industry from the government to the private sectors or individuals such as public companies and corporations. This is to allow for competition and efficiency.

SUB-TOPIC: 2 Reasons for commercialization and privatization of public enterprises

Below are the reasons:

• Efficient management: Both help to develop a good and efficient management of enterprises.
• Participation of private individuals: They assist people or individuals to participate in economic activities through ownership of enterprises.
• Revenue generation: They assist the government to generate more revenue.

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