What Is the Economic System Where the Means of Production

question 42

Multiple Choice

What is the economic system where the means of production are owned and controlled by the state, and goods and services are distributed as a cooperative enterprise without regard to profit?

• A) capitalism
• B) communism
• C) totalitarianism
• D) socialism

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Definitions:

Organizational Strategy

The comprehensive plan of action designed by an organization to achieve its overarching goals and create value.

Implementation Justification

The rationale and reasoning provided for proceeding with a particular project or strategy, highlighting the anticipated benefits and outcomes.

Multinational

A corporation that operates and has assets in more than one country, often managing production or delivering services in various international markets.

Domestic

Pertains to something that is within, originates from, or is related specifically to a country's internal affairs.