What term means the transfer of a public service or asset to private ownership and control without government funding or oversight?

What term means the transfer of a public service or asset to private ownership and control without government funding or oversight?

• A. Public-Private Partnership
• B. Market Research
• C. Outsourcing
• D. Privatization

Answer: (D)

Privatization means transferring ownership and control of a public service or asset from the government to the private sector, with private ownership and financing and little to no ongoing government funding or direct day-to-day oversight. The emphasis is on who owns and runs the asset after the transfer, not merely who performs the service or who contracts it out. Outsourcing keeps ownership with the government and only assigns service delivery to a private firm, so the asset and overarching control remain public. Public-Private Partnerships involve collaboration and usually include some level of government funding or guarantees, so government involvement doesn’t disappear. Market research is unrelated to ownership transfer. Therefore, privatization best fits the description.

Privatization means transferring ownership and control of a public service or asset from the government to the private sector, with private ownership and financing and little to no ongoing government funding or direct day-to-day oversight. The emphasis is on who owns and runs the asset after the transfer, not merely who performs the service or who contracts it out. Outsourcing keeps ownership with the government and only assigns service delivery to a private firm, so the asset and overarching control remain public. Public-Private Partnerships involve collaboration and usually include some level of government funding or guarantees, so government involvement doesn’t disappear. Market research is unrelated to ownership transfer. Therefore, privatization best fits the description.