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:if over a period of time there is more money in the…In a socialist economy, the means of productions…Under the socialist economy, the decision on what to…In a capitalist system, the means of production is…In a socialist economy; private accumulation of wealth is?