MCQ practice · SSC Bangladesh and Global Studies Board questions · Chapter 10: The National Resources and the Economic Systems
Under which economic system are the means of production state-owned?
Think it through first, then pick an option.
- a Capitalist
- b Socialist
- c Mixed
- d Islamic
Answer and explanation
Correct answer: b Socialist
In the socialist system all resources including the means of production are state-owned.
Why the other options are wrong
- a Capitalist: In the capitalist system the factors of production are privately owned and maximum profit is the aim. The point asked is not of this system but of the socialist system: the means of production are state-owned.
- c Mixed: In the mixed system the public and private sectors coexist. The point asked is not of this system but of the socialist system: the means of production are state-owned.
- d Islamic: In the islamic system economic functions run by the Shariah and interest is prohibited. The point asked is not of this system but of the socialist system: the means of production are state-owned.
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