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That would depend completely on the kind of economy being planned. Some plans/ideas for economies, such as those of the Venus Project, do emphasise equality of wealth. Other planned economies, as seen with many communist systems historically, do not provide equality of wealth.

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Match the following actions with the system in which the government performs them.?

Free-market system - Protecting property rights. Socialism - Providing equality of wealth. Planned economy - Making production decisions.


What is the definition of economic equality?

Economic equality refers to an economy in that all of the inhabitants are equally wealthy, and have the same status in the economy, because they have had the same opportunities, non discriminant on race, gender, skill, culture, or wealth condensation.


What are the advantages of a planned ecomomy?

Planned economy can be beneficial in terms of: Prices are under control and so people can afford to consume goods and services, less inequality of wealth, elimination of waste causing competition and firms and there is no duplication because the allocation of means is centrally planned.


Which economic providing equality of wealth?

Egalitarianism


What do you think might be sacrifice in the economy of Marx in order to achieve more equality?

In Marx's economy, there may be a need to sacrifice individual wealth accumulation and the profit motive in order to achieve greater equality. This could involve redistributing wealth and resources more equitably among the population, reducing income disparities, and focusing on meeting the needs of all individuals rather than prioritizing private ownership and profit.


What is the cause of Distribution of wealth?

The redistribution of wealth is aimed at enhancing levels of economic equality.


Main goal of a socialist system?

To satisfy people’s needs, in terms of food, housing, health care, education, entertainment, etc.


What do Powhatans use their crops for?

surviving and trading. It inproved their wealth and economy surviving and trading. It inproved their wealth and economy


Why was conscription good?

It makes an honest effort to eliminate the class, wealth and social status difference in the armed forces. It attempts to provide an equality level among the servicemen.


When can economic equality exist?

Economic equality exists when there is a reduced gap between the rich and the poor, in terms of income and wealth.


What does it mean to redistribute the wealth?

To redistribute wealth means to bring equality to everyone in wealth. To achieve this, the government for example, will tax the wealthy to provide for the poor. That is what it is to redistribute wealth.


What person believes that real equality can only exist when political equality is coupled with economic equality and that democratic means should be used to distribute wealth evenly throughout society?

socialist

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