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By doing away with the economy and having a system based on production for use, with free access and no money or prices.

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paulbenn

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10mo ago
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Wiki User

12y ago

theoretically

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Q: How does socialism solve economic problem?
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How does a command economic system solve their economic problem?

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What was the chief economic problem Cleisthene wanted to solve?

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How do you solve poverty as economic problem?

The government transfers money to the poor.


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Apparantly by spending buttloads of money that we don't have.


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Solve the economic problem of overproduction


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There is no one economic policy for socialism, different socialist movements and parties have different platforms and policies.


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How market forces help to solve basic economic problems?

how does the market mechanism solve the basic problem of free market economy?


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Price mechanism is an effective way to solve the basic economic problem. The price of a product is what will determine the demand and this will influence the production output which directly affects the economy.


Is socialism a core political ideal?

No, socialism is an economic system with specific economic models. It is not as much a political ideal as it is an economic system intended to lead to certain social outcomes.