WAEC - Government (2004 - No. 10)
A system of government which is based on the public ownership of means of production and distribution is called
welfarism
socialism
feudalism
authoritarianism
Paliwanag
Socialism is a system of government or economic organisation where the means of production and distribution (such as factories, land and capital) are owned and controlled by the public or the state, rather than by private individuals. The aim is to promote equality and reduce the gap between the rich and the poor.