There are two principal
types of socialism: «full socialism» in which the state owns all (or the vast majority)
of business and industry and controls production and marketing decisions through central planning; and «partial socialism», in which the state owns major businesses deemed to be essential to the national good, and / or subsidizes certain industries to save them from the impact
of competition, and provides certain goods and services deemed to be essential at reduced or no cost, but still allows major sectors
of the economy to operate as
free enterprise capitalism.