In a particular country,the government owns all the transportation companies,the utilities,the energy suppliers,and major manufacturing firms.Small businesses are privately owned.What type of economic system does this country have?

Question

Quizplus · Accepted Answer

This country has a socialist economic system because the government owns the major industries such as transportation, utilities, and energy suppliers, but small businesses are privately owned. In a socialist system, the government controls the means of production and distribution of goods and services, but allows for some private ownership and entrepreneurial activity.

In a Particular Country,the Government Owns All the Transportation Companies,the