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15 September, 21:19

Which economic system comprises the collective ownership of property?

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  1. 15 September, 21:35
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    Socialism

    Socialism is an economic and political system or theory of organization where the ownership and regulation of the means of production, distribution, and exchange is done by the whole community. Thus, socialism is characterized by collective ownership.

    Countries which have adopted socialism include China, Denmark, Finland, Netherlands, Sweden, Norway, Ireland, and Canada, among others.
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