Question on: JAMB Economics - 2020
Collectivism refers to the management of state enterprises in a?
A
mixed economy
B
co-operative organizations
C
capitalist economic system
D
socialist economy
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Correct Option: D
Collectivism is most closely associated with a socialist economy. In a socialist economy, the means of production (including state enterprises) are owned and controlled by the state or the community, reflecting the collective ownership and control central to collectivism.
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