Question

What is the economic and political system in which the government controls property and the distribution of income? In this system, community ownership replaces private ownership.

Question 6 options:


Theocracy


Monarchy


Fudamentalism


Socialism

Answer 1

Your answer would be socialism :) 

Answer 2

Socialism

Socialism or a socialist economic or political system is characterized by government dominance, wherein production and distribution of goods, property and income is controlled by the government rather than by private enterprises.

A socialist system serves to protect members of its society from exploitation by making sure that wealth, resources and goods are equally available and distributed to all members of society, thereby promoting welfare.