Matching Pairs State Owned EnterprisesOnline version Edexcel IGCSE Business Studies Textbook Chapter 5 by Elinor Kurton 1 Privatisation 2 Productivity 3 Deregulation 4 Strategic Industries 5 Public Goods 6 Merit Goods 7 Subsidise 8 Natural Monopoly 9 Public corporation 10 Contracting Out 11 Infrastructure A business organisation that is owned and controlled by the government. A form of privatisation where legal restrictions are lifted to allow for more competition from the private sector. Services that are provided by the private sector and by the state to prevent underconsumption and to ensure everyone receives a basic level of provision, irrespective of income or location. The basic systems (power networks, transport and communication systems) essential for the operation of a country. When the state pays part of the cost paid by a business for something deemed socially desirable. The type of market where production is more efficient, preventing wasteful duplication, when carried out by a single producer. When ownership of a state owned enterprise is transferred to private citizens and organisations. The rate at which goods are produced in relation to the time, work and finance needed to produce them. Services and industries (power, communication, law and order) that are essential to national stability and security. Goods not provided by the private sector because they cannot make a profit from them because they cannot prevent those that have not paid from consuming the service, eg street lighting. When private sector organisations are given the opportunity to contract to provide services previously supplied by the state.
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