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.
Answer:
yes because it separates the economy more
As a parent, you should tell them there isn't anything under the bed. If they are still complaining, then comfort them and show them the truth that there are no monsters under the bed whatsoever.
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The general restrictions and authority granted to the federal and state governments by their respective written constitutions are referred to as constitutional law.
A state's executive, legislative, and judicial branches as well as the fundamental rights of its citizens and, in federal nations like the United States and Canada, the relationship between the national government and state, provincial, and territorial governments are all defined by the body of law known as constitutional law.
Not all nation states have written constitutions, but all such entities have a jus commune, or law of the land, which may consist of a variety of imperative and consensual laws. Customary law, conventions, statute law, court-made law, and international laws and standards may all fall under this category. Constitutional law focuses on the underlying rules that guide how the government wields its power. These principles sometimes provide the government specific powers, including the ability to tax and spend money for the general good of the populace. Other times, constitutional principles function to impose restrictions on what the government can do, such as banning the arrest of a person without a warrant.
Learn more about constitutional law here
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