Final answer:
When a government seizes assets and provides no compensation, it is known as confiscation, not expropriation which offers some compensation, even if inadequate.
Step-by-step explanation:
Expropriation occurs when a local government seizes and provides inadequate compensation for the foreign-owned assets of an MNC; when no compensation is provided, it is confiscation. Expropriation and confiscation both involve the government taking control of private assets, but they differ in terms of compensation. Expropriation involves some level of compensation, albeit inadequate, while confiscation means no compensation is offered at all.
This terminology is often associated with the broader concept of nationalization, where a government takes control of economic assets such as land or an entire industry, which may result in a situation that resembles either expropriation or confiscation depending on whether compensation is provided.