Which system features ownership that is held collectively rather than privately, with the state as the owner?

Which system features ownership that is held collectively rather than privately, with the state as the owner?

• A. Public ownership
• B. Capitalism
• C. Socialism
• D. Cooperative ownership

Answer: (C)

Ownership held collectively with the state as the owner describes socialism. In socialist systems the means of production—factories, land, resources—are owned and controlled by the community or the state rather than private individuals. The aim is to organize production and distribution to meet social needs and reduce inequality, rather than to generate private profit. This contrasts with capitalism, where private ownership drives decisions; cooperative ownership, where a specific group runs the enterprise, rather than the state; and public ownership can involve state control but not necessarily the broad, collective ownership of production that defines socialism. So the described setup aligns with socialism.

Ownership held collectively with the state as the owner describes socialism. In socialist systems the means of production—factories, land, resources—are owned and controlled by the community or the state rather than private individuals. The aim is to organize production and distribution to meet social needs and reduce inequality, rather than to generate private profit. This contrasts with capitalism, where private ownership drives decisions; cooperative ownership, where a specific group runs the enterprise, rather than the state; and public ownership can involve state control but not necessarily the broad, collective ownership of production that defines socialism. So the described setup aligns with socialism.