1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
horrorfan [7]
3 years ago
15

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

Social Studies
2 answers:
Hitman42 [59]3 years ago
6 0

This economic system is called<em> socialism.</em>

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<em> government</em> 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]3 years ago
6 0

Answer:

socialism

Explanation:

You might be interested in
If a nutrient is in such short supply in an ecosystem that it affects an animal’s growth, the
irakobra [83]
D i think because there is not enough food for everything and stunts the growth of all the animals
5 0
3 years ago
Read 2 more answers
Describe the Massachusetts Hip-Hop Archive and tell why it was created. Then, explain why someone might want to study the histor
Marina86 [1]

Answer:

POG

Explanation:

BH3V KH42BJEWDBVC2VECFQBRGVWT YES

7 0
2 years ago
What does America need to do better in treating people of color?
kati45 [8]

Answer:

treat everyone fairly

Explanation:

8 0
2 years ago
How is oil transported today
enyata [817]

Answer:

Explanation:

Oil is transported via rail cars, trucks, tanker vessels, and through pipelines.

5 0
3 years ago
I need 5 sentences on women ,African Americans, and native Americans by today please help me
djverab [1.8K]

Answer: hmmmm one min

Explanation:

4 0
2 years ago
Other questions:
  • 1. Interpret: Why did the Iroquois choose to side with the British? I​
    9·1 answer
  • What is the most effective way for Congress to prevent a president's foreign policy?
    8·1 answer
  • Colleen likes to have others do things for her and is quick to criticize other people for being dependent and lazy. this demonst
    6·1 answer
  • What was the Civil Rights Act of 1964?
    5·1 answer
  • Banafsheh is a female student in a graduate program in pure mathematics. On the first day of classes, she notices that she is on
    5·1 answer
  • In the case of Plessy v. Ferguson, a the principle of "separate but equal" was used to justify segregation. b school busing was
    9·1 answer
  • BRAINLIEST
    14·1 answer
  • What is this please please please please please please please please help
    13·2 answers
  • What would you do if your mother tells you that you to look after the house?<br>​
    5·1 answer
  • A developing human from fertilization through the first 8 weeks of development is:________
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!