Socialism Is Defined as an Economic System in Which __________

Socialism is defined as an economic system in which __________.

A) the major means of production and the distribution and production of major goods and services are in private hands and the main goal is maximizing profit
B) the state owns the major means of production, but the distribution of major goods and services is in private hands for the accumulation of profits
C) the state owns the major means of production and directs the production and distribution of major goods and services to maximize the well-being of the collectivity
D) the state owns the major means of production and seeks to maximize the economic gain of individuals