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What is an economy where government owns all production and industry?
Command Economy.
Economy where government owns all industry and production?
Socialism
Who owns farms factories and offices and communist economy?
Depending on how you interpret it either the government owns it all or the proletariat (the very poorest people) owns it all collectively.
What kind of economic system does a communist government have?
Communist governments use what is known as a command economy. In a command economy, the government owns everything, employs everyone, and makes all economic decisions.
What does it mean when the US has a mixed economy?
ANSWERNeither the government nor individuals completely control private industry and business.ANSWERboth business and industry make all of the economic rules.The U.S. is said to have a "mixed economy" because both private businesses and government play major roles in the economy.
What is a control economy?
Economy in which much of the activity is controlled by government policy rather than by the dictates of markets. Examples are socialist and communist economies.
What elements of socialism remain in China's economy?
The Chinese government owns a large portion or has a golden control share in almost all large corporations, making it able to control their long-term goals and trajectories. This governmental control of industry is one of the hallmarks of socialism.
How are economic decisions made in a command economy?
In a command economy, the government makes the economic decisions. This means that they control industry (including manufacturing and agriculture), as opposed to being controlled by the markets and the people. The government decides what goods to produce and how to distribute them.
A country has a command economy. Which of the following statements applies to it?
The government owns and controls all major industries-apex
Which economic institution owns all industry and production?
socialism
Which industry is key of all industries?
The manufacturing industry plays an integral in the economy
What type of government where the government owns all of the property?
communist or autocracy
