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Not necessary.
However, it has been evident historically that complete centrally planned economy tends to work inefficiently due to the inflexibility of production (where the market can't decide on what to produce.)
Wiki User
∙ 13y ago
paulbenn
There is no such thing as a Socialist economy. Socialism has no wages, no money, no prices, hence no economy. Just production to meet human need and free access to goods and services.
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Compare capitalist economy with socialist economy?
Socialism means a classless stateless society with no money or prices or buying and selling. hence there can be no such thing as a Socialist economy.
Is Ghana a capitalist or socialist economy?
Ghana is a capitalist economy.
Why might a socialist society have a less rigid command economy than a communist socirty?
In a socialist society, various political systems may be combines with public control of the economy.
In a socialist economy the government takes a laissez-faire approach to the economy?
False
Is free enterprise found in a capitalist economy or socialist economy?
It is found in a capitalist economy. However, do remember no nation currently has a pure capitalist or pure socialist economy. Every nation has a trace of capitalist and socialist
Compare capitalist economy with socialist economy?
Socialism means a classless stateless society with no money or prices or buying and selling. hence there can be no such thing as a Socialist economy.
Does Portugal have a socialist economy?
No. Portugal economy is corporativistic
What economy does Portugal have?
socialist
Is Ghana a capitalist or socialist economy?
Ghana is a capitalist economy.
Why might a socialist society have a less rigid command economy than a communist socirty?
In a socialist society, various political systems may be combines with public control of the economy.
Does France have a democratic socialist economy?
France is capitalist: class system, wage labour, production for sale at a profit.
Is France's economy capitalist?
no it is very socialist
What is a term for a planned economy?
socialist system
China's economy is best described as?
Socialist
Are socialist market economy and socialist economy same?
yes and no... if you want to buy stuff you go to the socialist market then otherwise i think it's the same.
In a socialist economy the government takes a laissez-faire approach to the economy?
False
Which of these statements is true with regard to Syria's economy?
Syria has a diversified socialist economy.
