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Socialism has no money, no economy and no prices. Under capitalism, prices are essentially determined by the amount of labour involved in producing something (affected too by supply and demand, among other things).
paulbenn
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∙ 14y agoDiscuss how price mechanism operates under capitalist system & under socialistic system ?
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What kind of economic system does France have?
mixed economy between socialist and capitalist
Is france's economy more capitalist or socialist?
Capitalist: class ownership, wages system, production for sale.
Is the US a capitalist or socialist country?
Capitalist: production for sale, wages system, minority ownership of the means of production, class division. Socialism has none of these, and there cannot be a mix of capitalism and Socialism.
Is Venezuela capitalist or socialist?
It’s capitalist: wages system, class ownership, production for profit. And capitalist countries have capitalist governments.
What are types of economic system?
Free economic system which is also called capitalist economy Centrally planned economic system which is also called the socialist economy Mixed economic system Military economic system
What kind of economic system does France have?
mixed economy between socialist and capitalist
Is france's economy more capitalist or socialist?
Capitalist: class ownership, wages system, production for sale.
Does France have a democratic socialist economy?
France is capitalist: class system, wage labour, production for sale at a profit.
Is USA a capitalist approach socialist system or a communism or a mixed economy?
The USA has a mixed economy with a considerably large, but declining, private sector.
Is the US a capitalist or socialist country?
Capitalist: production for sale, wages system, minority ownership of the means of production, class division. Socialism has none of these, and there cannot be a mix of capitalism and Socialism.
Is Vietnam socialist or communist?
Yes, in a sense that they have only a single party government, however they opened their economy to progress their commerce in a capitalist like manner.
Is Venezuela capitalist or socialist?
It’s capitalist: wages system, class ownership, production for profit. And capitalist countries have capitalist governments.
Which economy is closer to US economy?
The US economy is closest to a capitalist economy system, although the US has been known to implement a few socialist policies (like more government intervention)
What are types of economic system?
Free economic system which is also called capitalist economy Centrally planned economic system which is also called the socialist economy Mixed economic system Military economic system
Is US a capitalist economy or mixed economy?
Capitalist: wages system,production for profit, class ownership.
What is the China's economic system?
China has a "mixed" economy, part socialist/communist, part capitalist. It's centrally managed by an authoritarian government.
Do Consumers have more choice in a socialist system over a capitalist system?
truee
