Basic Details
Word: Privatisation
Part of Speech: Noun
Meaning: The process of transferring ownership of a business, public service, or public property from the government to private individuals or organisations.
Synonyms: Deregulation, liberalisation
Antonyms: Nationalisation, public ownership
Idioms and Phrases
- Privatised to the bone: When a company or service has been sold off extensively and has very little public control left. Example: "The local transport system has been privatised to the bone, leading to higher fares and less service."
- Making a killing: Refers to profiting significantly from an investment or venture, which can be relevant in privatisation. Example: "The investors are making a killing from the privatisation of the energy sector."
Usage Examples
Example 1: The government announced the privatisation of the national airline to improve efficiency and profitability.
Example 2: Many citizens were concerned about the privatisation of public health services and its impact on the quality of care.
Example 3: After the privatisation took place, the newly private company was able to innovate and expand its services quickly.
Fun Fact
Did you know that the concept of privatisation gained significant popularity in the 1980s, especially in the UK and the USA, where many public services were transformed into private businesses? This shift was often aimed at increasing efficiency and reducing government expenditure.
Famous Quote
"Privatisation is one of the biggest challenges of our time: it is not just a change of ownership, but also a change in how we value public goods." - Unknown
Multiple Choice Questions (MCQs)
1. What does "privatisation" mean?
a) The process of making something public
b) The transfer of ownership from public to private
c) The closure of a business
d) The creation of a new government agency
Answer: b) The transfer of ownership from public to private
2. Which of these is a synonym of "privatisation"?
a) Nationalisation
b) Deregulation
c) Separation
d) Cooperation
Answer: b) Deregulation
3. Which is an antonym of "privatisation"?
a) Liberalisation
b) Nationalisation
c) Marketization
d) Defence
Answer: b) Nationalisation
4. Which sentence uses "privatisation" correctly?
a) The privatisation of the park made it much busier.
b) The privatisation of the library showed people loved to read.
c) The privatisation of public transport affected many commuters.
d) The privatisation of the beach allowed for more fish to be caught.
Answer: c) The privatisation of public transport affected many commuters.
5. Which idiom relates to making profits from privatisation?
a) Privatised to the bone
b) Making a killing
c) A stitch in time saves nine
d) Hit the nail on the head
Answer: b) Making a killing
