Question

In centrally planned economies, the government owns most of the factors of production. select one:

a. True
b. False

Answer 1

I would saythat a society where the government owns most of the factors or means of production would most likely be like in Cuba which is a socialist government so I would say this would be true but at the same time there is some private enterprise like Sherritt Gordon Mines running the nickel mines and also some small entrepreneur but these enterprises are in the minority.