What term is used when a government directly engages in an industry?

The term that describes a government directly engaging in an industry is "public enterprise." This occurs when the government takes ownership or control over certain sectors of the economy, typically to provide services that may not be offered efficiently by the private sector or to ensure that essential services are available to all citizens. Public enterprises can be found in various industries, such as transportation, healthcare, and utilities, where the government aims to meet public need and welfare.

Nationalization, while closely related, specifically refers to the process of transforming private assets into public ownership, whereas public enterprise encompasses the broader concept of government involvement in various sectors. The private sector refers to businesses owned and operated by individuals or groups for profit, which is distinctly different from government operations. Collaboration might imply some form of partnership but does not directly indicate government control or ownership in an industry. Thus, public enterprise accurately captures the direct engagement of government in managing an industry.