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industrial capitalism
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What economic system is based on government control of all factors of production?
communism
What do the economic systems of other countries have in common with the economic system of the US?
They face the same basic economic problems
What economic system in which decision on production and consumption of goods and services are based on voluntary exchange in market?
The Market
Capitalism is an economic system based on?
Ownership of the means of production by a small minority; wages system; production for sale and profit; exploitation
Why do kin-based economic systems prevail in non-industrial societies?
prevailing economic systems
What is the definition of industrial town?
An industrial town is a city where the economic system is based off industry, such as a mining town.
What economic system is based on government control of all factors of production?
communism
What type of economic system is found in Germany?
Germany has an Industrial based economy. Their economy at present is really strong.
What do the economic systems of other countries have in common with the economic system of the US?
They face the same basic economic problems
What economic system in which decision on production and consumption of goods and services are based on voluntary exchange in market?
The Market
What is capitalism in sociology?
An economic system based on the private ownership of the means of production and distribution in which the goal is to produce profi
Capitalism is an economic system based on?
Ownership of the means of production by a small minority; wages system; production for sale and profit; exploitation
What type of economic system does Malaysia have after imperialism?
1957-1970 - Agricultural 1970s- mid 1980s - Agricultural + Industrial 1985 onwards - Industrial 1995 onwards - knowledge based
Why do kin-based economic systems prevail in non-industrial societies?
prevailing economic systems
Capitalism is an example of what type of economic system?
Capitalism is an example of a free market economy.
What is the difference between an agrarian society and a industrial society?
An agrarian society is based on agriculture and an industrial society is based on mass mechanized production.
What economic system does a socialist country have?
Socialism (a classless stateless society based on production for use) will have to exist at a global level, so there cannot be a Socialist country. And there will be no ones or wages or prices, hence no economic system.
