A competitive bid is a sealed offer, including price and terms, submitted by a contractor to a purchaser, who selects the bid with the best combination of price and terms. This system is widely used by municipalities, railroads, and public utilities.
An outdated accounting method used to present financial statements in certain public utilities and railways prior to privatization.
Public ownership refers to the government ownership and operation of a productive facility or entity for the purpose of providing goods and services to the public, as well as portions of a corporation's stock that are publicly owned and traded in the market.
