The nationalization of key industries in countries such as Sweden and France is indicative of which type of economy?
A) socialist
B) communist
C) capitalist
D) nationalist

Question

Quizplus · Accepted Answer

The nationalization of key industries is a characteristic of socialist economies, which prioritize government ownership and control of critical sectors such as healthcare, education, and transportation. Communism, while similar to socialism, advocates for the complete abolition of private property, whereas capitalist economies prioritize private ownership and the free market. Nationalism, while it may involve government intervention in the economy, is primarily concerned with promoting and protecting a nation's interests and identity.

The Nationalization of Key Industries in Countries Such as Sweden