John also known as John Lackland was King of England from 1199 until his death in 1216
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Answer:
- Ownership of the resource
- Resource allocation
- Wealth distribution
- Welfare funds
Explanation:
- Ownership of resource
Socialist government allows ownership of the resources, but it will be kept to something that we consume/use directly (food , clothing, shelter)
Resources such as land, electricity, water, and other things that is used by the mass will be controlled by the government.
- Resource allocation
In pure socialist country, the government will determine the type of goods/services produced by the country. The citizens do not have the options to pursue their own interest and have to adapt to the government's decision
- Wealth distribution
People's chance to obtain additional gain for their income tend to be limited. Pure socialist government tend to equalize the income received by the people. This can be a double edged sword . On one hand , this will eliminate disparity between social classes. On the other hand, this system will provide no incentives for the people who wants to work harder.
- Welfare
Things such as health insurance and food coupons will be nationalized in a pure socialist country, Private insurance company wouldn't exist, and people in the country will receive the same type of health care.
