### Question 19Many countries around the world have started making the move from a command economy to a free market economy in recent years. One of the biggest challenges for these countries is the transition from state-owned enterprises to those owned by individuals or organizations other than the state. What is this transition called?**A.** Sole proprietorship **B.** Business structure **C.** Public enterprise **D.** Privatization### Explanation:- **Sole proprietorship:** A business owned and operated by a single individual, with no distinction between the business and the owner. - **Business structure:** The organizational framework legally recognized in a particular jurisdiction for conducting commercial activities, such as sole proprietorship, partnership, corporation, etc. - **Public enterprise:** A business organization owned and operated by the government. - **Privatization:** The process of transferring ownership of a business, enterprise, agency, public service, or public property from the government to private individuals or organizations.### Answer:The correct answer is **D. Privatization**. ### Additional Information:Privatization is seen as a step toward economic reform for many transitioning economies. It is a complex process that involves considerations of market dynamics, regulatory frameworks, and the socioeconomic implications of moving from a state-controlled system to one driven by free-market principles.(No graphs or diagrams are present in the image.)

Government-owned companies refer to those enterprises which are owned and operated by the government…

Answered: of the biggest challenges for these…

of the biggest challenges for these countries is the transition from state-owned enterprises to those owned by individuals or organiza- tions other than the state. What is this transition called?

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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