Socialist economic system (Socialism)
economic system, socialism is an economic system that looks similar to the economy. Communist Under the socialist economic system, the state would govern the basic productive resources. Almost all of them And a planned economy Identify basic troubleshooting A primary basis Economic importance to the majority of countries, such as banking, industry, mining, forestry, oil Utility. And utilities, etc. The state is coming into its own, however, the state has some fairly given freedom to the people. Freedom and private ownership of property holdings, as can a small business trade between neighboring local authorities. Can freehold land. In summary, subsistence economy, socialism is an economic system that relies on the state, as an important mechanism to allocate the resources of the economy. But the price mechanism will have some role in this economy
1. Advantages of the socialist economic system,
economic system, socialism is an economic system that has helped reduce inequality. In addition, the status and income of individuals under this economic freedom and private ownership of property holdings are some fairly
2. Disadvantages of a socialist economy
under the socialist economic system. Because inputs based on their control. The lack of streamlined government Production is limited because of the need to produce according to regulations. The opportunity to expand production or improve the quality of production is laborious. Make use of economic resources may be inefficient. In the same way the communist economic system.
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