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chubhunter [2.5K]
2 years ago
8

that idea that some basic businesses such as steel mills, coal mines and utilities, should be owned and controlled by the govern

ment is indicative of a economic system.
Business
1 answer:
valentina_108 [34]2 years ago
8 0

The idea that some basic businesses such as steel mills, coal mines and utilities, should be owned and controlled by the government is an indicative of a socialism.

What is a socialism?

It is an opposite of Capitalism because it is an economic system in which a society usually in the form of the government, owns and controls all the means of production.

In other words, it also means the economic and political system that demands the government have a complete ownership and control of the fundamental means of production factories and the distribution of wealth.

Read more about socialism

brainly.com/question/17194683

#SPJ1

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