What economic system involves government sharing control of major industries with citizens?

The chosen answer is socialism, which is indeed the correct response to the question about an economic system where the government shares control of major industries with citizens. In socialism, there is a significant emphasis on collective or governmental ownership of resources, which contrasts with capitalism, where individual ownership and private enterprise dominate. Under socialism, the government plays a crucial role in regulating and managing key industries to promote economic equality and provide social welfare. This can involve public ownership or extensive regulations to ensure that resources are distributed in a way that meets the needs of all citizens, not just a wealthy few.

In this economic framework, citizens often have a voice in the operation and direction of these industries, which can create a sense of community and shared responsibility. This system contrasts sharply with feudalism, which is a historical system based on land ownership and a rigid class structure, and democracy, which is primarily a political system focused on governance rather than economic management. Capitalism, while it can lead to wealth generation and individual entrepreneurship, does not typically involve the government in sharing control of industries to the extent seen in socialism.