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:The three broad categories of productions are?In a socialist economy, prices of commodities are…A major disadvantage of a socialist economy is that?Mixed economy refers to a system in which the means…In a capitalist system, the means of production is…