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Question: 1 / 400

Which country is known for having a socialistic command economic system?

United States

Germany

Great Britain

Great Britain is known for having elements of a socialistic command economic system, particularly in the context of its historical development and the influence of social democracy. The country has implemented various forms of social welfare policies and public ownership in key industries, especially post-World War II. This included nationalizing industries such as coal, steel, and utilities to provide services and goods for the public good rather than for profit.

The British model sees a balance between market forces and government intervention, where the government plays a significant role in regulating the economy and providing welfare programs. This approach contrasts with countries like the United States, which predominantly follows a capitalist economic model, or Japan and Germany, which operate with market economies and do not primarily reflect a socialistic command system.

In summary, the identification of Great Britain as having a socialistic command economic system derives from its combination of market mechanisms alongside substantial government interventions and social welfare programs, particularly in the mid-20th century.

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