What is the term for the economic
system in which the government owns
the businesses?
A. Communism
B. Capitalism
C. Private ownership
D. Private enterprise
Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided.
Communism Definition: a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
