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In a socialist political system, the government typically controls labor and industry. This economic framework emphasizes collective ownership and management of resources, aiming to reduce inequality and promote social welfare. In more extreme forms, such as communism, the state may have complete control over all aspects of the economy. These systems contrast with capitalism, where private individuals or corporations own and operate businesses.
What else can I help you with?
What political system calls for government of the economy?
Communism is the political system that called for government control of the economy.
What government system where all property and industry are owned by the government in order to create equality?
Communism is the political system where the government takes all of the land and redistributes it equally.
What does the government use to control who enters an industry?
Through a licensing system, government agencies control who enters such industries, their prices, and their methods of operation.
Totalitarian?
a political system in which the government exer4cises complete control over its citizens' lives`
Which system involves total government control of a nation's economy?
Communism is the political system that called for government control of the economy.
What political system calls for government control of the economy?
Communism is the political system that called for government control of the economy.
Which economic system says government should control all land and wealth and that government should be in the hands of just one political party?
Capitalism
Which system of government do the people have the most political power?
in which system of government do the people have the most political party
How does the division of power in the US political system contribute to limited government?
The division of power in the U. S. political system contributes to limited government in a great way. Due to how our founding father's set up the constitution it allows the government to work for the people and not to control the people.
Why did business people believe in an economic system free of government control?
Business people want less government control so that their businesses won't be highly regulated. They want to be able to expand without regard to promoting competition within the industry.
What is the political system in which the government peacefully takes control of production while the citizena retain partial control over economic planning?
B democratic socialism
Who controls the banking industry?
Some degree of control is exerted by government regulatory agencies, but remember that we have a free enterprise economic system; the banking industry essentially controls itself.
