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What type of economic and political system exists where all resources and production are owned collectively by all?
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∙ 8y ago
Socialism
socialism(Kaylop)
Wiki User
∙ 8y ago
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What type of economic and political system exist where all resources and production are owned collectively by all?
mixed capitalism
What are the factors of production in an economic system?
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.
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.
Economic resources are also known as?
Factors of production.
In the circular flow model economic resources is both production and the factors of production?
truetrue
What type of economic and political system exist where all resources and production are owned collectively by all?
mixed capitalism
How is communism used in a sentence?
Communism is an economic and political ideology that advocates for a classless society where the means of production are owned collectively.
What are the factors of production in an economic system?
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.
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.
Economic resources are also known as?
Factors of production.
In the circular flow model economic resources is both production and the factors of production?
truetrue
What type of resource is not an economic factor of production?
Money, political resources, and infrastructure are not considered economic factors of production. Money is considered to be a factor used in trade, mostly. Money is used to trade or sell or buy something and for production to move as well. It can be a huge factor that contribute to production but it mostly envelopes the trade industry.
What is a political and economic framework where all property is collectively owned and labor is organized for the common advantage of the community?
communism
What does economic do with resources when it comes to the production and distribution of goods and services?
Allocating
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.
A major economic and political union in Europe?
Great food production
Under which economic system are resources devoted to production for use or need rather than production for profit?
socialism
