If the government owns many of the key industrial sectors, such as transportation, health care, and communications, but private ownership is allowed in other industries, what type of economic system does the country have?
A) communism
B) capitalism
C) free-market economy
D) socialism
E) totalitarianism
Answer: D
Explanation: Socialism lies somewhere between capitalism and communism, with a fairly high degree of government planning and some government ownership of capital resources. However, government ownership tends to be focused in industries considered vital to the common welfare, such as transportation, health care, and communications. Private ownership is permitted in other industries.
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