Socialism
Socialism
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
The US has a mixed-market economic system.
Under state capitalism, the government controls the means of production. But this is for the benefit of the ruling class, not for ‘the public good’.
Mixed economic systems combine elements of market and command economies. It is currently the most common economic system.
Socialism
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
The US has a mixed-market economic system.
Under state capitalism, the government controls the means of production. But this is for the benefit of the ruling class, not for ‘the public good’.
oliver vaughan
Mixed economic systems combine elements of market and command economies. It is currently the most common economic system.
A trade, an exchange, or barter. An economic system which operates without money is called a barter system.
industrial capitalism
command
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
An economic system is a mechanism which deals with the production,distribution