What is privitization and nationalisation?

Privatization is the process of transferring ownership of a public enterprise or asset to private individuals or organizations, often aimed at increasing efficiency and reducing government involvement in the economy. In contrast, nationalization involves the transfer of private assets or industries into public ownership, typically by the government, to ensure that essential services are managed for the public good or to control key resources. Both processes reflect differing economic ideologies and approaches to managing resources and services.