Asked by Savannah LaPort on Jun 12, 2024
Verified
_____ is an economic system in which the government owns and operates basic industries.
A) Collectivism
B) Capitalism
C) Socialism
D) Egalitarianism
E) Utilitarianism
Government Owns
A situation where assets, enterprises, or other resources are owned and controlled by the government rather than by private individuals or organizations.
- Familiarize with the primary characteristics and disparities between economic systems, namely capitalism, socialism, and communism.
Verified Answer
BJ
Brooke JacksonJun 19, 2024
Final Answer :
C
Explanation :
Socialism is the economic system where the government owns and controls the major industries, aiming to distribute resources and wealth more evenly across the population.
Learning Objectives
- Familiarize with the primary characteristics and disparities between economic systems, namely capitalism, socialism, and communism.
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