In the country of ABC,the government owns the public transportation,basic services like energy supply and communication,and the core manufacturing firms.Small businesses are privately owned.What type of economic system does ABC have?

Question

Quizplus · Accepted Answer

In a socialist economic system, the government owns and controls the major means of production, including public transportation, basic services like energy and communication, as well as core industries, while allowing for private ownership of smaller businesses. This description matches the scenario provided for the country of ABC.

In the Country of ABC,the Government Owns the Public Transportation,basic