Video Quiz Note #10 - Video Lecture Quiz Econ#2 1 Nationalization vs Privatization a How does a government make money A 1 taxes income taxes sales tax 2

Video Quiz Note #10 - Video Lecture Quiz Econ#2 1...

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2/9/17 Video Lecture Quiz: Econ #2 1.Nationalization vs Privatizationa.How does a government make money? A: 1) taxes, income taxes, sales tax. 2) control resources/businesses. Businesses make money some of that money goes to the bank of the government. b. Nationalization – state physically and literally take over a resources and business private property. Venezuela, US froze all asset of Venezuela to get their Exxon stuff back. Capitalist hate nationalization. c. Privatization – government sells of a private industry. Japan sold post office for the private businesses. Military to private business could be in the future? d. Liberal Left – On privatization: more regulation, raise taxes on those industry. On Nationalization: let the people run it. e. Conservative right – on privatization: good. On nationalization: No, it’s heading toward communism. f. Why nationalize? A: 1) Times of war/emergency. Steel, food because they don’t want the industry to raise money to sell it to the gov’t. 2) Social good far outweighs the cost. Healthcare nationalize because it’s good for the healthy citizen. 3) save the flailing business.
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