Final answer:
In Russia, the government's ownership of many companies, also known as a public enterprise, is an attribute of a socialist or communist economic system, which still persists to some extent despite the country transitioning toward a market economy after communism's collapse.
Step-by-step explanation:
In Russia, the system where the government owns many companies instead of private citizens is known as public enterprise. This concept is part of a broader economic system where the factors of production, including resources and businesses, are owned and operated by the state. Such ownership by the government is typical in socialist or communist countries.
However, over time and especially after the collapse of communism in Russia, there was a shift towards privatization, selling government-owned businesses to private citizens to foster a market economy. Despite this, the Russian style of capitalism still includes considerable government control over basic resources and significant industries, akin to other partially state-run economies.
After the Soviet Union's collapse and the end of its military, known as the Red Army, Russia experienced a great deal of transition. The revolt of 1917 that brought the Russian communist party, led by V.I. Lenin, to power eventually led to a shift from communism to a more capitalistic approach, while still maintaining elements of state control.
The transition was marked by the selling of government-owned businesses to private citizens, a process known as privatization. The debate over the role of government in the economy is ongoing, with some critics labeling any government involvement as socialism while others advocate for such involvement to protect workers' rights and public well-being.