Question

In what system does the government control all of the means of production, including private property, and make all decisions on how resources are to be used?

Responses

socialism

socialism

communism

communism

capitalism

capitalism

mercantilism

Answer 1

The system in which the government controls all means of production, including private property, and makes all decisions on how resources are to be used is **communism**. While socialism involves significant government control of the economy, communism typically implies a more absolute form of that control, often to the point of eliminating private property entirely.