Public Ownership, Privatisation, Regulation, and Deregulation (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What term describes the process of taking private assets into public control?
What term describes the process of taking private assets into public control?
Nationalisation
During which period did the main era of UK nationalisation occur?
During which period did the main era of UK nationalisation occur?
1945-1951
Why were banks nationalised during the 2007-2008 financial crisis?
Why were banks nationalised during the 2007-2008 financial crisis?
They were too important to fail
What did publicly-owned East Coast Rail achieve during its operation?
What did publicly-owned East Coast Rail achieve during its operation?
Generated millions in profits
How many major industries were privatised in the UK between 1981 and 2015?
How many major industries were privatised in the UK between 1981 and 2015?
More than 16
For free-market economists, what is the most important justification for privatisation?
For free-market economists, what is the most important justification for privatisation?
Promoting efficiency
What do critics fear privatisation transforms public monopolies into?
What do critics fear privatisation transforms public monopolies into?
Less accountable private monopolies
What are the two main types of regulation?
What are the two main types of regulation?
External and self-regulation
What theory justifies deregulation by suggesting barriers to entry should be removed?
What theory justifies deregulation by suggesting barriers to entry should be removed?
Contestable markets theory
What is regulatory capture?
What is regulatory capture?
Regulators act in firms' interest