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The idea that some basic businesses such as steel mills, coal mines, and utilities should be owned and controlled by the government is indicative of a(n) ______ economic system.

A. communist
B. free market
C. socialist
D. capitalist

Sagot :

GinnyAnsweridn

Final answer:

Socialism is an economic system where government owns and controls basic businesses, contrasting with capitalism where most property is privately owned.


Explanation:

Socialism is the economic system where basic businesses such as steel mills, coal mines, and utilities are owned and controlled by the government. This system contrasts with a capitalist economy, where most property is privately owned by individuals or corporations. Within socialism, there are differing views on the extent of government control over the economy.


Learn more about Economic Systems here:

https://brainly.com/question/39861932


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