Economics A-Level
Public ownership
What Public ownership means in Economics A-Level, as defined for AQA.
Definition of Public ownership
Check what you remember
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Reference: AQA
Occurs when the state owns and operates firms or industries, and can prioritise social welfare and allocative efficiency over profit maximisation.
Topics that use Public ownership
Related terms
- Allocative efficiency
- Asymmetric information
- Economic performance
- Efficiency
- Government failure
- Monopoly power
- Natural monopolies
- Privatisation and Nationalisation
Using Public ownership in the exam
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