WAEC - Government (2018 - No. 3)
A political system in which the state owns and controls the major means of production is known as?
feudalism
socialism
fascism
capitalism
Explication
Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. it is a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.