Which of the following is uncharacteristic of a socialist economy?
A) All capital and capital goods are privately owned.
B) The government owns and controls key industries.
C) Land and raw materials may be the property of the state.
D) What to produce and how to produce it are based on national goals.
E) Distribution of goods and services is controlled by the state.

Question

Quizplus · Accepted Answer

In a socialist economy, the means of production are typically owned and controlled by the state or by collective ownership, rather than by private individuals or companies. Therefore, all capital and capital goods being privately owned would be uncharacteristic of a socialist economy.

Which of the Following Is Uncharacteristic of a Socialist Economy