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The economic system which combines both capitalism and socialism is called a Blank system?
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The economic system which combines both captialism and socialism is called?
mixed system
What economic systems is a mixed economy a combination if?
where the functions of both capitalism and socialism are present,that is called mixed economy.
How is a mixed economy is a mixture of command and pure market economy?
It’s called capitalism: class ownership, wages system, production for sale.
What is the economic system of the US called?
The economic system of the US is called Capitalism.
An economic system where all business is controlled by people who share equally in the profits is called?
Libertarian Socialism is the economic system based on equal collective ownership of property. It includes Social anarchism and libertarian Marxism.
The economic system which combines both captialism and socialism is called?
mixed system
What economic systems is a mixed economy a combination if?
where the functions of both capitalism and socialism are present,that is called mixed economy.
Which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy is called?
Socialism is when ownership of production and distribution is controlled collectively or by the government. The opposite of socialism is capitalism.
What is classical socialism?
"Classical socialism" usually refers to the conception of socialism that emerged in the late-19th century as an economic system that operated according to different economic laws than those that operate in capitalism. These included the idea of economic planning in place of markets for capital goods, measuring value in physical quantities instead of using money, and public ownership of resources in place of private ownership, along with worker's democratic management in the economy. "Classical socialism" differed from later developments in the 20th century, especially neoclassical socialism, which included a role for money and prices in a socialist system, and the Soviet-type economic system (sometimes called "actually-existing socialism"), which was meant to be a transitional economy in-between capitalism and pure socialism.
How is a mixed economy is a mixture of command and pure market economy?
It’s called capitalism: class ownership, wages system, production for sale.
What is the economic system of the US called?
The economic system of the US is called Capitalism.
An economic system where all business is controlled by people who share equally in the profits is called?
Libertarian Socialism is the economic system based on equal collective ownership of property. It includes Social anarchism and libertarian Marxism.
The economic system that America has is called?
mixed capitalism
What is the the type of economy where people carry on their economic affairs freely but are subject to some government intervention and regulation?
When people can carry out their economic business freely but are also subject to some government intervention and regulation, that is called a mixed economy. It is a mixture of capitalism and socialism.
Why is capitalism called an efficient economic system?
Cause of its comparison to the other economic systems.
The economic system America has is called what?
Free market capitalism.
What are four types of economic systems?
There are basically four kinds of economic systems: 1) Market economy- An economic system in which individuals own and operate different factions of production. Examples: Free Enterprise & Capitalism 2) Command economy - An economic system in which government owns and operates all factions of production. Examples: Socialism & Communism 3) Traditional Economy - An economic system based on culture and tradition. Economy is based on agriculture and hunting. Examples: Non-Industrialized agrarian societies. 4) Mixed Economy - An economic system where both command and market systems are featured. Examples: United States is not a pure capitalist country for there are forms of socialism instilled in it to benefit individuals in need of services and has minimum wages, however, free enterprise reigns in the U.S. China also has both forms of economy, however, the Chinese government controls the prices and production.
