Question

The industries in which the factors of productions are owned,governed and controlled by public and private institutes are known as​

Answer 1

Answer:

An economic system consists of the institutions and the method by which resources ... Economic systems differ primarily in who owns the factors of production, how the ... Communism, also known as a command system, is an economic system ... public over private ownership and control of property and natural resources.

Explanation:

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Answer 2

Explanation:

State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community as opposed to an individual or private party.[1] Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget.[2] Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership.[3]