Stanislav lives in a country where all the factors of production are owned by the government. The economic system in his country is most likely

Question

Quizplus · Accepted Answer

In a communist system, all factors of production are owned by the government or the people collectively. This system does not allow any private ownership of property or businesses, making it highly unlikely for any other economic system to exist in the described scenario.

Stanislav Lives in a Country Where All the Factors of Production