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What economic system is based on government control of all factors of production?
communism
What is industrial capitalism definition?
Industrial capitalism is an economic system characterized by the private ownership of the means of production, where goods are produced at a large scale using industrial methods. It emphasizes the role of capital investment, technological innovation, and wage labor in driving economic growth. This system emerged during the Industrial Revolution and is marked by the accumulation of capital, the expansion of markets, and the concentration of economic power in the hands of a few. It contrasts with earlier forms of capitalism that were more agrarian and artisan-based.
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
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 is industrial capitalism definition?
Industrial capitalism is an economic system characterized by the private ownership of the means of production, where goods are produced at a large scale using industrial methods. It emphasizes the role of capital investment, technological innovation, and wage labor in driving economic growth. This system emerged during the Industrial Revolution and is marked by the accumulation of capital, the expansion of markets, and the concentration of economic power in the hands of a few. It contrasts with earlier forms of capitalism that were more agrarian and artisan-based.
What is the difference between an agrarian society and a industrial society?
An agrarian society relies primarily on agriculture as the main economic activity, while an industrial society is characterized by a shift towards manufacturing and mechanized production. Agrarian societies are typically more rural and based on manual labor, while industrial societies are more urbanized and utilize machinery for production.
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.
