Which of the Following Is Uncharacteristic of a Socialist Economy

question 43

Multiple Choice

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.

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Definitions:

American Colonies

The British territories in North America that declared independence in 1776 to form the United States of America.

Massachusetts Assembly

A legislative body in the state of Massachusetts with a history dating back to colonial times, responsible for creating state laws.

Events of 1767

The events of 1767 refer to specific historical occurrences within that year, notable for various political, social, and cultural developments globally.

Dissolution

the process of dissolving or disintegrating, often used in the context of the breakup of organizations, governments, or marriages.