Question on: JAMB Commerce - 2015
Citizens are against privatization mainly because of
A
Ineffective Management
B
The likely hood of monopoly
C
Increased price of good and services
D
The ration dilation of organizations.
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Correct Option: C
Citizens often oppose privatization due to the following reasons:
- Increased prices of goods and services: Privatized entities may prioritize profit maximization, potentially leading to higher prices for consumers. This can make essential goods and services less affordable and accessible.
- Job losses: Privatization can lead to restructuring and downsizing, resulting in job losses and increased unemployment.
- Reduced access to services: If services are privatized, they may become less accessible to certain segments of the population, particularly those with lower incomes.
- The likelihood of monopoly: Private companies may eliminate competition.
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