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Is it true of false that socialism and captialism are market based economies?
Lorikris
It is true that capitalism is a market-based economy.
Socialism can be either market-based or based on economic planning. However, even in socialist planned economies, there would still be markets in consumer goods and some markets for capital goods, so socialism would still include a role for markets.
On the other hand, fully-developed communism would NOT be a market-based economy.
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Are capitalism and socialism opposites?
Typically they are considered to be opposites, even though there are many similarities. These are some common distinctions between the two: 1) Socialism is based on Social ownership of the means of production; Capitalism is based on Private ownership of the means of production. 2) Management in socialism is based on collective-decision making and self-management; Management in capitalist firms is based on hierarchical decision-making. 3) Socialism is based on "Production for use"; capitalism is based on "Production for profit". This means that the surplus product generated is used to benefit everyone in socialism, whereas in capitalism it becomes the profit for a few private owners. 4) Socialism is generally based on economic planning; while capitalism is based on a market economy. This is not always true; there are many forms of market socialism, and most of the existing capitalist economies are actually "mixed economies".
Two countries with market based economies?
There are several countries that have a market based economies. France and England are two countries that have this type of economy.
What is a mixed economy based on?
A mixed economy is based on several different types of economies. For example the mixed American economy is a combination of socialism and capitalism.
How does socialism provide a compromise between capitalism and communism?
Socialism is not a compromise between capitalism and communism, it is a distinct economic system and mode of production. A "mixed economy" is often cited as being a compromise between socialism and capitalism, but in practice most mixed economies are interventionist capitalist economies.
Why do socialist systems have mixed economies?
Socialism is not considered a mixed economy. Socialism is defined as a system based on public ownership of the means of production, self-management in enterprises, and production for use instead of production for private profit. There are two types of socialism: planned economies and market socialism. A mixed economy usually refers to a type of capitalism where the government intervenes in markets to affect economic outcomes, or engages in some minor indirect economic planning. Mixed economies are heavily capitalist: profit-driven enterprise is the dominant form of organization, most firms are privately-owned, and markets are still the primary way of coordinating the economy.
Who answers the three basic economic questions for market socialism?
Market Socialism cannot exist, so the question here is meaningless. Socialism means a classless stateless society based on production for use, with no wages or prices or money.
What is definition of market socialism?
market socialism is a term used to denote two different economic system based in socialism which operate according tomarket priniciples.
What has the European union promoted the establishment of socialist economies in member nations?
This question is based on a false premise. The European union has not promoted the establishment of socialist economies in member nations. There are no members of the European Union which have socialist economies. All members have capitalist economies.
What does democratic socialism do for Canada?
Democratic socialism, defined as a political movement that seeks to create a post-capitalist economy based on market socialism or economic planning, does not exist as a major political force in Canada.
What are the most important differences between state socialism and market socialism?
Market socialism should be contrasted with a planned economy, or planned socialism. Market socialism involves the use of markets and prices for determining how to use and allocate factors of production among organizations. These organizations may be state-owned or co-operatively owned; so market socialism can be a type of state socialism. State socialism is contrasted with co-operative socialism. In state socialism, the means of production are owned and managed by a public body. In contrast, cooperative socialism involves ownership of the means of production by the employees or by councils of consumer co-operatives. It is possible to have state-market socialism and cooperative-market socialism. Likewise, it is possible to have cooperative-planned socialism and state-planned socialism.
Why is the economic theory supporting market economies (or capitalism) much more realistic than theories supporting command economies?
It is based on self-interest. PLATOPALS<3
Why is the economic theory supporting market economies or capitalism much more realistic than theories supporting command economies?
It is based on self-interest. PLATOPALS<3
