Home › BBA › Economics › Economic Systems and Markets › A system where basic industries are state-owned …
A system where basic industries are state-owned or under strong state control is:
ASocialism
BCapitalism
CFederalism
DFeudalism
Answer & Solution
Correct answer: A. Socialism
1. Some private sector may remain.
2. But the basic industries are controlled.
3. It is socialism.
_Source: OpenStax Introduction to Business, Chapter 1, Understanding Economic Systems and Business._
Related questions
A country's output of goods and services that people can buy with their money is its:Many firms selling close but not identical substitutes describes:A market where a few firms produce most or all of the output is an:A market where a single firm accounts for all sales and entry is blocked is a:The amount of goods and services one worker can produce is:Government programmes controlling the amount of money circulating make up:The government's use of taxation and spending to affect the economy is:The index tracking prices of a market basket of goods bought by households is the: