Question

. Analyze socialism and capitalism in relation with the
Philippine society. Which of these economic systems
would work in our country?​

Answer 1

Answer:

Socialism is a type of command economic system. The state owns and controls most of the factors of production, including land and capital goods. The state also engages in central planning. Production of goods and services, as well as their prices and distribution, are centrally controlled by the state.xplanation: