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4 years ago

Economic system in which the factors of production are owned by the government

Social Studies

2 answers:

Hitman42 [59]4 years ago

6 0

This economic system is called socialism.

Socialism is an economic system where everyone in the society equally owns the factors of production. The ownership as such is in the hands of the government that controls all means of production and distribution of goods.

The factors of production are : land, labor, capital and entrepreneurship.

In a socialistic economy, the land is owned by the state and private property is limited and difficult to obtain. Labor is heavily regulated and most people are employed in state-owned companies. Workers do not have many rights and they have to obey the government which also decides what is being produced and in which capacity ( planned economy ).

Socialism does not reward people for being entrepreneurial and competitive as competition is no existing and everybody reaps the same benefits of their work.

AURORKA [14]4 years ago

6 0

Answer:

socialism

Explanation:

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Lynna [10]

Answer:

Gestalt approach

Explanation:

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3 years ago

The remembered and reported dream was referred to by Freud as:

timama [110]

Answer:

d. the manifest content.

Explanation:

The manifest content

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4 years ago

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Answer:

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3 years ago

Brazil's population grew by how many during Pedro II rule?

olchik [2.2K]

Answer: from 4,000,000 to 14,000,000 people.

Explanation:

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3 years ago

When was hispanic heritage month first celebrated in the us

Natali [406]

Answer:

1968

Explanation:

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