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…In a capitalist system, the means of production is…In a socialist economy, prices of commodities are…In a socialist economy, the means of productions…BFN 112 Theory Questions: Socialist Economic System:…