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In a socialist economy most means of production are owned and controlled collective by whom?
Wiki User
∙ 7y ago
the government
Webster Gutkowski
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Is france's economy more capitalist or socialist?
Capitalist: class ownership, wages system, production for sale.
What is the economic system that is most closely related to a democracy?
The economic systems of democratic socialism are the closest forms of communism. The main differences are that other socialist and non socialist parties could exist and be part of the government. However, any economy calling itself "socialist" infers that the major means of production is controlled by the government.
Characteristics of centrally planned economy?
government ownership and control, equality (collective)
Examples of socialist economy?
An example of a socialist economy is one in which the government has control over products being produced. China is one example of a socialist economy. Some other examples are Finland, Canada, Sweden, Norway, and the Netherlands.
In a socialist economy how are the basic problems of scarcity and allocation of limited resources addressed?
By production for use or need.
Which term best describes the type of economy Libya has?
socialist The Libyan economy is controlled by the government.
Does France have a democratic socialist economy?
France is capitalist: class system, wage labour, production for sale at a profit.
When Before 1992 the Soviet Union was an example of a economy?
State capitalism, where the state owned the means of production, most people had to work for a wage, and those who controlled the state formed the ruling class.
Which publicly controlled economy is the nearest a mixed economic system?
The publicly controlled economy which is the nearest to a mixed economic system is a socialist economy. The public will influence such an economy to a great extent.
Is france's economy more capitalist or socialist?
Capitalist: class ownership, wages system, production for sale.
What is the economic system that is most closely related to a democracy?
The economic systems of democratic socialism are the closest forms of communism. The main differences are that other socialist and non socialist parties could exist and be part of the government. However, any economy calling itself "socialist" infers that the major means of production is controlled by the government.
What is the best description of the Russian economy before 1985?
The best description of the Russian economy before 1985 was a socialist economy. The socialist economy focused on the production of goods for the use of the country and humans needs and not for the accumulation of capital wealth.
Characteristics of centrally planned economy?
government ownership and control, equality (collective)
What are the main features of socialist model of development?
A socialist economy is characterised by public ownership of the means of production and distribution. There is collective ownership whereby all mines, farms, factories, financial institutions, distributing agencies (internal and external trade, shops, stores, etc.), means of transport and communications, etc.
Examples of socialist economy?
An example of a socialist economy is one in which the government has control over products being produced. China is one example of a socialist economy. Some other examples are Finland, Canada, Sweden, Norway, and the Netherlands.
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.
In a socialist economy how are the basic problems of scarcity and allocation of limited resources addressed?
By production for use or need.
