IGNOU EEC 12 2017 2018 - Write a note on the problems associated with ‘privatisation&rsqu

Question

Write a note on the problems associated with ‘privatisation’.

23 Aug 2017

Answer :

Word Count : 381

Problems of privatisation

1. Natural monopoly

A natural monopoly occurs when the most efficient number of firms in an industry is one. For example, tap water has very significant fixed costs. Therefore there is no scope for having competition amongst several firms. Therefore, in this case, privatisation would just create a private monopoly which might seek to set higher prices which exploit consumers. Therefore it is better to have a public monopoly rather than a private

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