In a socialist economy, the means of productions owned and controlled by the? by Sunday | May 25 | Economics WAEC | 0 comments A. state B. rich C. entreprenuer D. traders Correct Answer: Option A A. state Users Also Read These:A major disadvantage of a socialist economy is that?Resources owned and controlled by a business are…Under the socialist economy, the decision on what to…Mixed economy refers to a system in which the means…In a capitalist economy; factors of production are…