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An economic system that encourages state ownership and control of the means of production is

Government
JAMB 2024

An economic system that encourages state ownership and control of the means of production is

  • A. socialism
  • B. communism
  • C. fascism
  • D. capitalism
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Correct Answer: Option A
Explanation

Socialism is an economic system that encourages state ownership and control of the means of production. Communism, on the other hand, is the common ownership and control of the means of production. 

There is an explanation video available below.

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Explanation Video

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