Advertisements
Advertisements
Question
Which economic system is characterized by state ownership and planned resource allocation?
Options
Feudalism
Socialism
Mixed economy
Capitalism
MCQ
Advertisements
Solution
Socialism is characterized by state ownership and planned resource allocation. In contrast, capitalism features private ownership with market-driven decisions, and a mixed economy combines both public and private sectors.
shaalaa.com
Is there an error in this question or solution?
