In a socialist economy, key industries owned by the government include all except
A) utilities.
B) communications.
C) food production.
D) banking.
E) transportation.

Question

Quizplus · Accepted Answer

In a socialist economy, the government typically owns and controls key industries such as utilities, communications, banking, and transportation to ensure equitable access and control. However, food production is not exclusively owned by the government in a socialist economy; it can be a mix of state-owned, cooperative, and private enterprises, depending on the specific model of socialism.

In a Socialist Economy, Key Industries Owned by the Government