Chapter 5

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Question Answer
Public corporations
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business organisations owned and controlled by the state/government
Portfolio
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collection of business interests or products
Infrastructure
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basic systems and structures that a country or organisation needs in order to work properly
Duplication
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repeat of something
Provision
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providing something that someone needs now or in the future
Natural monopoly
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market where it is more efficient to have just one organisation meeting total market demand
Subsidise
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paying part of the costs (often by the government in business
Privatisation
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transfer of public sector sources to the private sector
deregulation
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lifting restrictions preventing private sector competition

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