0
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.
The government controls the factors of production in each economic system.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
What economic system is based on government control of all factors of production?
communism
Do economic resources include both production and the factors of production?
Yes, the means of production, and the system that supports it, are all resources.
An economic system in which the factors of production are owned by the public and operated for the welfare of all is?
Socialism
What happens if the factors of production in an economic system are wasted?
You're dick grows smaller
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
What does market economic system mean?
a system indivivisuals own the factors of production and decide how to use them.
What economic system is based on government control of all factors of production?
communism
Do economic resources include both production and the factors of production?
Yes, the means of production, and the system that supports it, are all resources.
An economic system in which the factors of production are owned by the public and operated for the welfare of all is?
Socialism
What happens if the factors of production in an economic system are wasted?
You're dick grows smaller
What is a system in which individuals own factors of production and make economic decisions?
mixed economy
The economic and political system which the government owns almost all major factors of production?
communism
What is the name of an economic system in which private citizens own the factors of production?
I believe the answer is "a command economy"It is market economy
Economic system in which individuals control the factors and means of production is called?
Free Enterprise
Economic resources are also known as?
Factors of production.
Factors of production history?
Factors of production are essential conditions or resources that favor economic production, and include land, labor, entrepreneurship, and capital.
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.
