Collectivism refers to the management of state enterprises in a?
ECONOMICS
JAMB 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
Correct Answer: D. socialist economy
Explanation
Collectivism is a political-economic theory that advocates for a collective control of resources, especially over production and distribution. It is the opposite of individualism which seeks individual ownership of production factors It is associated with socialism which advocates for collective ownership of resources, rather than by individuals.
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