When a government acquires business enterprises formerly owned by individuals, it is termed?
Answer Details
When a government acquires business enterprises formerly owned by individuals, it is termed "nationalization." Nationalization is a process whereby the government takes control of privately owned businesses and makes them public property. This can occur for various reasons, such as to increase state control over certain industries, to protect national interests, or to provide essential services to citizens. When the government takes over a business through nationalization, it assumes ownership and control of its operations, assets, and liabilities.