Final answer:
To say socialists do not believe in central planning of the economy is false, as socialism includes a range of theories, some advocating central planning, and others advocating decentralized control.
Step-by-step explanation:
Socialists do in fact believe in government ownership of key sectors of the economy but to say they all do not believe in central planning of the economy is false. While it is true that some socialists advocate for decentralization, with the belief that control should be by those most affected by the economic decisions, socialism encompasses a range of economic theories, some of which include central planning. Specifically, in communist countries like the former Soviet Union and China, the national government exerts central control over the economy, deciding what businesses produce and what prices to set. However, other forms of socialism, particularly democratic socialism, may advocate for a mix of public and private ownership, subject to government regulation, and place a greater emphasis on social welfare and the redistribution of resources to achieve greater economic equality.