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An economic system where all business is controlled by people who share equally in the profits is called _____. free enterprise Socialism a market economy Capitalism

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The answer should be Socialism
User Free Willaert
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Answer: Socialism

Explanation: When the whole business is not in the hands of entrepreneurs who, according to their abilities and sensibilities for the free market, make a profit according to their investment, that is, when all business is in the hands of all the people of one state then it is socialism. In doing so, all the profits generated are distributed equally to all people, which is one of the basic assumptions of socialism.

User Nab
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