Which term refers to an economy based on public ownership of the means of production,the pursuit of collective goals,and centralized decision making?
A) socialism
B) capitalism
C) communism
D) a mixed economy

Question

Quizplus · Accepted Answer

Socialism is an economic system where the means of production are owned and controlled by the public or the state, with an emphasis on collective goals and centralized decision-making.

Which Term Refers to an Economy Based on Public Ownership