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Socialists believed that factories, land, capital, and raw materials should be collectively owned and managed by the community or the state, rather than by private individuals or corporations. This approach aims to eliminate exploitation and ensure that the benefits of production are distributed more equitably among all members of society. By prioritizing collective ownership, socialists seek to create a system that serves the common good and promotes social welfare.
What else can I help you with?
This is equipment and factories used in the production of goods and services?
capital goods or capital
What are the capital resources of soda?
The bottling plants / factories.
Money invested in factories and industry is called?
Capital
How did labor and capital combine to create the Industrial Revolution?
Capital was invested in factories that employed the workforce
How did labor capital combine to create the industrial revolution?
Capital was invested in factories that employed the workforce
What money needed to build factories or other productive outlets?
Capital
What is the definition for capital?
Tools, machines, and factories used to produce goods.
What is the definition for capital resource?
Tools, machines, and factories used to produce goods.
What is one reason that industrialization spread in the northeast?
The Northeast of England was well disposed regarding mineral wealth, which is what was needed for industry.Nearby coalfields provided the fuel, iron ore and other minerals were found close by and the ports could ship the products out and raw materials into the area.
What is productive capital?
Productive capital are assets that are used to produce wealth. They are usually machines, factories, and other tools of mass production.
In the mid-1700s how did trade contribute to the early growth of an industrial economy in great Britain?
It gave British entrepreneurs the capital needed to open new factories.
What do industrial production require?
Heavy industries require capital,flat lands,technology,fuel,raw materials and labour.When the time transport technologies are still backward,factories are set near the natural resources to reduce the transportation costs for transporting these heavy and bulky raw materials and fuels.
