Question

Which among the following is associated with State ownership ?

• A. Capitalism
• B. Socialism
• C. Co-operation
• D. Communism

Answer 1

Answer:

B. Socialism

• Socialism is associated with state ownership of the means of production, where the government controls or regulates key industries and resources to promote equal distribution of wealth and services.

• Capitalism emphasizes private ownership.

• Communism also involves state ownership, but to an extreme degree where all property is owned collectively, with no private ownership.

• Co-operation refers to people working together, but it is not specifically linked to state ownership.