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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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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.
Which economic providing equality of wealth?
Egalitarianism
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 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
What is an example of a subsistence economy?
A subsistence economy is an economy which is based on gathering or amassment of valuable items; the increase in wealth; or the creation of wealth. So, basically, an example would be Canada, the United States, etc. Almost the whole world is a subsistence economy.
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 does it mean to redistribute the wealth?
Redistributing wealth involves transferring money or resources from those with more to those with less, aiming to reduce economic inequality. This can be done through policies like progressive taxation, social welfare programs, and wealth inheritance taxes. The goal is to create a more equal distribution of wealth in society.
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.
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.
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
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 was the main purpose of the Socialist movement?
to keep the power in the hands of the politicians to protect the rights of the workers
