Concept:Socialism is the economic system in which the means of production and distribution are publicly owned.Explanation:Public ownership means the state or community manages major resources and industries.Capitalism is based on private ownership and the pursuit of profit.Feudalism is centred on land ownership by lords and the labour of serfs.Oligarchy describes rule by a small group of powerful people.Only socialism fits the description given in the question.Therefore, the correct choice is clear and direct.Answer:A. socialism