Which of the following is not a characteristic of a socialist economy?
A) All capital and capital goods are privately owned.
B) The government owns and controls key industries.
C) Land and raw materials may be the property of the state.
D) What to produce and how to produce it are based on national goals.
E) Distribution of goods and services is controlled by the state.

Question

Quizplus · Accepted Answer

The ownership of capital and capital goods being privately owned is a characteristic of a capitalist economy, not a socialist economy.

Which of the Following Is Not a Characteristic of a Socialist