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An economic system in which the factors of production are owned by the public and operated for the welfare of all is?
Socialism
Who owns the factors of production in the Philippines?
Factors of production is labor land capital entrepreneurship and technology and hence is owned by everyone (including citizens and government) of any company.
Under which economic system would factors of production most likely be owned by the government?
Communism is one chief example where production is a ward of the state. In this system the means to production and national resources are communal rather than private property.
What are not key ideas of capitalism?
All companies should distribute their profits evenly throughout the population.The means of production should be owned by the state.all companies should distribute their profits evenly throughout the populationThe government should guarantee a basic standard of living for everyone.The means of production should be owned by the stateThe means of production should be owned by the stateAll companies should distribute their profits evenly throughout the population.The Government should guarantee a basic standard of living for everyone(apex)
Who owns the factors of production in China?
In China, the factors of production—land, labor, capital, and entrepreneurship—are primarily owned by the state, especially land, which is owned collectively by the state or rural collectives. However, private ownership has been increasingly permitted since the economic reforms initiated in the late 1970s, allowing individuals and private enterprises to own and manage businesses. The government maintains significant control over key industries and sectors, balancing state ownership with market-oriented reforms.
What owns the factors of production?
Factors of production are typically owned by individuals, businesses, or the government. Land is owned by individuals or governments, labor is owned by individuals, capital is owned by businesses or individuals, and entrepreneurship is typically owned by individuals who take the risk to start and run a business.
An economic system in which the factors of production are owned by the public and operated for the welfare of all is?
Socialism
Who owns the factors of production in the Philippines?
Factors of production is labor land capital entrepreneurship and technology and hence is owned by everyone (including citizens and government) of any company.
Who owns the factors of production of Angola?
The factors of production in Angola are owned by a mix of private individuals, the government, and foreign investors. The government plays a significant role in sectors like oil and diamonds, while agriculture and services are often owned by private entities. Foreign investors also have stakes in various industries in Angola.
Under which economic system would factors of production most likely be owned by the government?
Communism is one chief example where production is a ward of the state. In this system the means to production and national resources are communal rather than private property.
What is the complete form or stage of socialism?
The complete form of socialism would be an economy that no longer operates according to the law of value, meaning, production is socially-owned and used to produce goods and services directly for use instead of for profit.
Is the Peninsula de Yucatan of Belize Guatemala cuba or Mexico?
The territory of Yucatan Peninsula is mostly owned by Mexico, but it also includes Belize as well as the Peten province of Guatemala.
What is it called when all the materials and production is owned and controlled by a society?
Agricultural production owned by rural communities are called communes. Manufacturing or retail firms owned by the workers are called cooperatives.
How did Charles Fourier try to the ills of industrialization?
One way Charles Fourier tried to correct the ills of industrialization was by advocating for socialism. He wanted the factors of production to be owned by the citizens.
What is imputed cost in sap?
Sometimes it is found that in the production process the entreprenure e factors of production which are owned by him. now for these factors of production he is not paying anything, but actually he is loosing the earning he can earn by hiring them. This loss is considered as the cost of production and is referred as Imputed cost or Implicit Cost. As for example a farmer is cultivating in his own land, so, he need bot to pay the rent, but money which he can earn as rent is the Imputed Cost here.
Who possesses the factors of production for Kenya?
The factors of production in Kenya are owned by a mix of private individuals, businesses, and the government. Private individuals and businesses predominantly own physical capital and entrepreneurship, while the government may own some natural resources and provide infrastructure and public services. Kenya has a market-oriented economy where these various entities play a role in the production process.
How did Charles Fourier try to correct the ills of industrialization?
One way Charles Fourier tried to correct the ills of industrialization was by advocating for socialism. He wanted the factors of production to be owned by the citizens.
