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What are three possible disadvantages of privatization of the industries such as electricity and gas supplies?
Wiki User
∙ 12y ago
They will be operated with a profit motive as opposed to a public service motive; jobs may be lost as cost cuts are looked for to increase profits; loss making services maybe closed down; they may end up as monopolies, keeping prices high.
Wiki User
∙ 12y ago
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Does privatization necessarily benefit stakeholders in the economy of your country?
Having been a resident in both China and Canada, I have a view on both types of political systems and economies. My general answer is no because of how your question is worded. The keyword is "necessarily". If we were to prove that something is necessarily true, it is virtually impossible. As discussed in the "Black Swan", such a conception can be disproven by one example of negation. Yet we cannot be absolutely sure that there is no case to the contrary in the entire world since we cannot examine every possible situation. Privatization, although in my opinion, greatly increases work efficiency and economic output in general, do not "necessarily" benefit every stakeholder.
What are possible disadvantages of a perfectly competitive industry or firm?
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What is relationship between agriculture industry and trade?
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