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.
A manufacturing capacity planning is more dependent on time and location as every step of the manufacturing process is specific and certain regulations must be adhered to while service planning is a lot more flexible.
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A budget in terms of goverment and everything else is how much you can spend at most for a certain subject like a car, or clothes. For example: the military budget of the United States is 738 Billion dollars
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Today, the world's tallest war memorial stands at San Jacinto, honoring all those who fought for Texas' independence. Immediately after the battle, the land — then privately owned — commanded respect from all who walked on its soil.
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Contact the county recorder, clerk, or assessor's office
