Individuals and the government both own factors of production. This type of economic system is the most common in the world today. Choose Socialism Communism is associated I with the DPRK (North SR (Soviet Union)? Traditional Capitalism 5 poi

The correct answer is Socialism.<br /><br />In a socialist economic system, both individuals and the government own and control the factors of production, such as land, labor, and capital. This is in contrast to a capitalist system, where the factors of production are primarily owned and controlled by private individuals or corporations.<br /><br />Socialism is the most common economic system in the world today, with many countries adopting a mix of socialist and capitalist elements in their economic structures.