_____ is an economic system based on the principle that the government should own and operate key enterprises that directly affect public welfare.
A) Laissezfaire
B) Capitalism
C) Socialism
D) Anarchism

Question

_____ is an economic system based on the principle that the government should own and operate key enterprises that directly affect public welfare.
A) Laissez­faire
B) Capitalism
C) Socialism
D) Anarchism

Quizplus · Accepted Answer

Socialism is an economic system where the government owns and operates important industries that directly impact the public's well-being, such as healthcare, education, and infrastructure. The goal of socialism is to promote equality and distribute resources fairly among all members of society. In contrast, capitalist economies rely on privately owned businesses to drive economic growth, based on the principles of supply and demand. Laissez-faire and anarchism both advocate for minimal government intervention in the economy, which is different from socialism.

_____ Is an Economic System Based on the Principle That