Cool MatePrivatization
UK /["/ˌpraɪvətaɪˈzeɪʃn/"]/US /["/ˌpraɪvətəˈzeɪʃn/"]/
Definition
the act of selling a business or an industry so that it is no longer owned by the government
In simple words: The process of transferring ownership of a business or service from the government to private individuals or companies.
Examples
- There were fears that privatization would lead to job losses.
Usage notes
Use in formal discussions about government policies. Avoid in casual conversation; instead, use simpler terms like 'selling off'.
Grammar pattern
privatization + of + object
Memory hint
Think of 'private' and 'ization' — turning something public into something private.
Collocations
- privatization of services
- advocates of privatization
- privatization process
Synonyms
- deregulation
- marketization
- liberalization
Antonyms
- nationalization
- public ownership
Common mistakes
- Confused with 'nationalization' — privatization is the opposite.
- Using it in informal contexts where simpler terms are more appropriate.
- Mispronouncing 'privatization' with incorrect syllable emphasis.