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Production carried out directly for use, social ownership of large-scale industries, and collective decision-making within enterprises.
It is contrasted with capitalism, which is based on: Production carried out for private profit, private ownership of large-scale industries, and hierarchical decision-making within enterprises.
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What would be the economic system for theocracy?
Socialism
Is socialism a core political ideal?
No, socialism is an economic system with specific economic models. It is not as much a political ideal as it is an economic system intended to lead to certain social outcomes.
What term describes the system in which the public owns the means of production?
socialism
Which economic system best describes the United States?
The U.S. economy can be best described as socialism B. The U.S. economy is a pure market economy.
Which term describes the system in which The public owns of production?
socialism
What type of political system has collective government ownership of the economic system?
Socialism
The economic system which combines both captialism and socialism is called?
mixed system
Economic system where production operates for the public good?
Socialism
What are three main economics for economic system?
There are 3 main economics for economic system which are given below: 1.) Capitalism economic system 2.) Socialism economic system 3.) Mixed economic system .
What is the economic system that promote economic equality?
Not everyone agrees about which economic system best promotes economic equality. Those who advocate for socialism often argue that it's the fairest economic system.
Should socialism be capitalized?
No, because it is not a proper nou n.
What publicly controlled economy is nearest to a mixed economic system?
socialism
