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    Define Socialism

    Uploaded by

    Faryal Rios Farooqi
    The document defines different economic systems: - Socialism is based on public/common ownership and cooperative management of production and resources. Production is carried out by public associations to directly produce use-values through coordinated planning. - A market economy has little government intervention and economic decisions are guided by citizen/business interactions. - A mixed economy includes a variety of private and government control, combining aspects of capitalism and socialism. - A planned economy has the state directing the entire economy by controlling production and distribution. Capitalism differs in prioritizing personal gain over public need. Democratic socialism differs from communism in allowing some private ownership and giving people fewer economic decisions. The document argues that a mixed economy best suits America by

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    Define Socialism

    Uploaded by

    Faryal Rios Farooqi
    39 views2 pages
    The document defines different economic systems: - Socialism is based on public/common ownership and cooperative management of production and resources. Production is carried out by public associations to directly produce use-values through coordinated planning. - A market economy has little government intervention and economic decisions are guided by citizen/business interactions. - A mixed economy includes a variety of private and government control, combining aspects of capitalism and socialism. - A planned economy has the state directing the entire economy by controlling production and distribution. Capitalism differs in prioritizing personal gain over public need. Democratic socialism differs from communism in allowing some private ownership and giving people fewer economic decisions. The document argues that a mixed economy best suits America by

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    The document defines different economic systems: - Socialism is based on public/common ownership and cooperative management of production and resources. Production is carried out by public associations to directly produce use-values through coordinated planning. - A market economy has little government intervention and economic decisions are guided by citizen/business interactions. - A mixed economy includes a variety of private and government control, combining aspects of capitalism and socialism. - A planned economy has the state directing the entire economy by controlling production and distribution. Capitalism differs in prioritizing personal gain over public need. Democratic socialism differs from communism in allowing some private ownership and giving people fewer economic decisions. The document argues that a mixed economy best suits America by

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    39 views2 pages

    Define Socialism

    Uploaded by

    Faryal Rios Farooqi
    The document defines different economic systems: - Socialism is based on public/common ownership and cooperative management of production and resources. Production is carried out by public associations to directly produce use-values through coordinated planning. - A market economy has little government intervention and economic decisions are guided by citizen/business interactions. - A mixed economy includes a variety of private and government control, combining aspects of capitalism and socialism. - A planned economy has the state directing the entire economy by controlling production and distribution. Capitalism differs in prioritizing personal gain over public need. Democratic socialism differs from communism in allowing some private ownership and giving people fewer economic decisions. The document argues that a mixed economy best suits America by

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    1.

    Define Socialism, Market economy, mixed


    economy, planned economy and discuss how
    this ideology differs from Capitalism. How does
    democratic socialism differ from communism?
    Socialism is an economic and political theory which is based on public
    ownership or common ownership and cooperative management of the
    means of production and allocation of resources .In a socialist economic
    system, the production is carried out by a public association of producers
    to directly produce use-values, through coordinated planning of investment
    decisions, distribution of surplus, and the use of the means of production.
    Socialism is a set of social and economic arrangements based on a post-
    monetary system of calculation, such as labor time or energy units.
    Market economy an economic system in which economic decisions
    and the pricing of goods and services are guided solely by the aggregate
    interactions of a country's citizens and businesses and there is little
    government intervention or central planning. This is the opposite of a
    centrally planned economy, in which government decisions drive most
    aspects of a country's economic activity.
    Mixed economy is an economic system that includes a variety of
    private and government control, or a mixture of capitalism and socialism.
    The United States is a prime example of a Mixed economy.

    Planned economy is an economic system in which the state directs the


    economy. It is an economic system in which the central government
    controls industry such that it makes all decisions regarding the production
    and distribution of goods and services.

    These ideologies differ from Capitalism mainly so in that capitalism is


    all about personal gain. Where all the businesses are privately owned and
    decisions aren’t made based on what the population need but what will
    increases the profit for the company.

    Democratic socialism differ from communism in very few ways.


    Democratic socialism the people are all working toward one goal such as
    they’re doing so in Communism, But  in communism there is more of a
    unity where their no classes and the people have a say in everything from
    production of goods to the political aspect of the government. Where
    basically in Democratic Socialism is basically do what’s best for each other
    but very few decisions are given to the people even though is states
    people are seen as equals.

    2. Which ideology do you feel will be best for


    America? I feel that the mixed economy is what suit america the best.
    For a number of reason First many privately owned business have been
    around for such a long time and know exactly what is best for their
    business which under governmental control the business probably wouldn’t
    survive. And also in some cases where business are failing and bring the
    economy down I believe the government should step in and take control as
    a form of prevention to try and not allow these companies to bring the
    economy any further down.
     

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