In a socialist economy, factors of production are owned and controlled by the? by Sunday | Jul 31 | Economics WAEC | 0 comments A. citizens B. businessmen C. government D. foreigners Correct Answer: Option C – government Users Also Read These:The warehouse that is owned and controlled by the…Under the socialist economy, the decision on what to…One of the fundamental differences between a…An economic system in which most means of production…In a capitalist system, the means of production is…