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:
The Vikings were among the first Europeans to discover North America and present day Canada, Leif Erikson was the one who landed.
Explanation:
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he first known European to have set foot on continental North America, approximately half a millennium before Christopher Columbus.
Though it is seen as a last resort, bankruptcy allows a consumer to temporarily stop paying debts. When you declared bankruptcy, you are allowed not to pay any form of tax and debts (after all your assets are checked of course) and will continue until you find a way to sustain yourself, either from a new job or a new business.
According to piaget, intellectual advancement occurs because humans seek cognitive development. This is defined in the Cognitive Development Theory of Jean Piaget. This theory states that children represent their understanding of the world according a mental scheme.
Explanation:
There are three main reasons for European Exploration. Them being for the sake of their economy, religion and glory. They wanted to improve their economy for instance by acquiring more spices, gold, and better and faster trading routes. Also, they really believed in the need to spread their religion, Christianity.