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What is a system in which individuals rather then governments own resources and all means of production?
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Under which economic system are resources devoted to production for use or need rather than production for profit?
socialism
The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.?
Socialism (A+)
What describes The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
Socialism
Which economic theory states that the basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
For A+ : Socialism
What type of economy best fits this description The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
Mixed Capitalism
Under which economic system are resources devoted to production for use or need rather than production for profit?
socialism
The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.?
Socialism (A+)
Who owns the means of production in a socialist society?
The people as a whole rather than private individuals.
What describes The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
Socialism
Which groups believed that means of production should be owned by society as a whole?
Socialists and communists believe that the means of production should be owned collectively by society as a whole, rather than by private individuals. These groups advocate for a system where resources and industry are controlled and managed for the benefit of the entire community.
What is the definition of private property?
private property, or property that is held by individuals or groups rather than by the federal, state, or local governments.
Which economic theory states that the basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
For A+ : Socialism
What type of economy best fits this description The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit?
Mixed Capitalism
What statement does not describe a market economy?
The problems of scarcity and allocation of resources are addressed by production for use or need rather than productio for profit.
Under which economic system would factors of production most likely be owned by the government?
Communism is one chief example where production is a ward of the state. In this system the means to production and national resources are communal rather than private property.
What is the philosophy that advocates public rather than private control of property?
Socialism advocates for public rather than private control of property. It believes that the means of production, distribution, and exchange should be owned or regulated by the community as a whole, rather than by private individuals.
What is a collective economy?
A collective economy is an economic system where ownership of resources and the means of production is shared or collectively controlled by a group of individuals or the community as a whole. In this system, decision-making and distribution of goods and services are often based on principles of cooperation and mutual benefit rather than individual profit.
