The nationalisation of key industries in countries such as Sweden and India is indicative of a(n) ____ economy.
A) Socialist
B) Communist
C) Capitalist
D) nationalist
E) industrialised

Question

Quizplus · Accepted Answer

The nationalisation of key industries is a characteristic of a socialist economy, where the government owns and controls certain industries and resources for the benefit of the society as a whole. This is in contrast to capitalist economies, where private individuals and businesses own and operate industries and resources for their own profit. Communist economies take this a step further, with the government owning and controlling all industries and resources. Nationalism can refer to a focus on the interests and identity of one's own nation, but it is not necessarily tied to economic systems. Industrialisation simply refers to the development of industries and manufacturing.

The Nationalisation of Key Industries in Countries Such as Sweden