Asked by Tabatha Magnuson on Jul 04, 2024
Verified
Which economic system is usually associated with government ownership of the means of production and central planning?
A) Communism
B) A market system
C) Mercantilism
D) Fascism
E) Capitalism
Government Ownership
The situation in which assets, enterprises, or industries are owned and operated by the government rather than private individuals or companies.
Mean of Production
Likely a typographic error intended to refer to "Means of Production," which are the resources (such as land, labor, and capital) used to produce goods and services.
Central Planning
An economic system where the government or a central authority makes all decisions regarding the production and distribution of goods and services.
- Familiarize yourself with the primary traits and disparities of capitalist, communist, and mixed economic frameworks.
Verified Answer
Learning Objectives
- Familiarize yourself with the primary traits and disparities of capitalist, communist, and mixed economic frameworks.
Related questions
Which of the Following Is NOT a Characteristic of the ...
In the Country of ABC,the Government Owns the Public Transportation,basic ...
_____ Is an Economic System in Which the Government Owns ...
Which of the Following Statements Is False ...
Producers Have an Incentive to Produce Those Goods Most Desired ...