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…An economic system in which most means of production…A major disadvantage of a socialist economy is that?Under the socialist economy, the decision on what to…BFN 112 Theory Questions: Socialist Economic System:…