A system of economic organization in which the ownership and control of productive capital assets rests with the state and in which resources are allocated through central planning and political decision making is called
A) socialism.
B) a market economy.
C) a corporate economy.
D) capitalism.

Question

Quizplus · Accepted Answer

Socialism is an economic system where the state owns and controls the means of production and resources are allocated through central planning.

A System of Economic Organization in Which the Ownership and Control