Which concept refers to collective community ownership?

The concept that refers to collective community ownership is socialism. This economic and political system emphasizes the idea that the means of production, distribution, and exchange should be owned or regulated collectively by the community as a whole, rather than by private individuals. In socialism, resources and wealth are distributed more equitably among the population, aiming to reduce inequalities that may arise in systems like capitalism, where private ownership and profit motive predominately govern economic activities.

Socialism can take various forms, including democratic socialism, which combines political democracy with social ownership of significant sectors of the economy, and more radical forms that call for complete state or communal ownership. The emphasis on community ownership aligns with the fundamental principles of socialism, making it the correct answer to this question.

In contrast, capitalism focuses on private ownership and free markets, where individual or corporate ownership of property and wealth is prioritized, and nationalism relates to the devotion to one's nation, often emphasizing national interests, which may not directly address ownership structures. Entrepreneurship pertains to the process of starting and managing new businesses, typically within a capitalist framework, thereby not fitting the concept of collective ownership either.