In which political system does the government own all businesses and control the economy?
A.feudalism
B.socialism
C.communism
D. capitalism
Feudalism is a hierarchy and not a socialist idea. And capitalism is owned by private owners. So is it D?
Actually I think it might be communism. Should've trusted my gut. So is it C?
So I am kind of mad at this question. Feudalism is a system in which systems are broken into feudal realms and lords. Capitalism is when the means of production are owned by private ownership, socialism is when the workers own the means of production, and communism a stateless, classless, moneyless society
Socialism
its communism
You are correct, the correct answer is C. communism. In communism, the government owns all businesses and controls the economy. Let me explain how you can arrive at this answer by understanding the key features of each political system.
Feudalism is a socio-economic system that was prevalent in medieval Europe, characterized by a hierarchical society where land was owned by nobles and worked by peasants in exchange for protection. Therefore, A. feudalism is not the correct answer.
Capitalism, represented by the option D, is an economic system where private individuals or corporations own and operate businesses. In capitalism, the government generally has a limited role in the economy, primarily focusing on ensuring fair competition and protecting property rights. As you correctly noted, capitalism does not involve the government owning all businesses or controlling the entire economy. Therefore, D. capitalism is not the correct answer.
Now, let's focus on the remaining options: B. socialism and C. communism. Although socialism and communism share some similarities, they have distinct features. Socialism is an economic and political system where the means of production, such as factories and industries, are owned and controlled by the state or the community as a whole, with the goal of achieving social equality and reducing economic inequality. However, socialism does not necessarily entail total government control of the entire economy or ownership of all businesses.
In contrast, communism is a political system and ideology that advocates for the complete abolition of private property and the establishment of a classless society where resources are collectively owned and distributed based on need. In a communist system, the government serves as the central authority and owns all means of production, managing and controlling the economy as a whole. Therefore, C. communism is the correct answer in this case.
So, to summarize, the political system in which the government owns all businesses and controls the entire economy is communism, making C. communism the correct answer.
Yes, communism.
No. The U.S. is a capitalist nation.
What does your reading assignment say?