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Business Economics - Microeconomic Concepts Effects of Privatization of the London Underground This essay aims to identify the business objectives of The London Underground, a public sector transport group that provides transportation services to the public within London, the potential changes to the business objectives if it were to be privatized. The London Underground, otherwise know as the Tube, is a public sector organization that is a publicly-owned part of the British mixed economy. The Tube is owned and controlled by the government and is a monopoly which takes advantage of economies of scale by being the sole provider of underground rail services to the public. This is supported by London Underground's stated mission; "...to open London's rich potential to all by delivering a dynamic public service that puts customers first." (http://tube.tfl.gov.uk) Being a public sector company the London Underground is subsidized by the government, which is funded by taxation. The organization is not accountable...

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