Question

economy and socialist economy​

Answer 1

A socialist economy is a system of production where goods and services are produced directly for use, in contrast to a capitalist economic system, where goods and services are produced to generate profit (and therefore indirectly for use). ... The ownership of the means of production varies in different socialist theories.

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Answer 2

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ECONOMY:

The state of a country or region in terms of the production and consumption of goods and services and tge supply of money.

SOCIALIST ECONOMY:

Socialist economics comprises the economic theories, practices and norms of hypothetical and existing socialist economic systems.

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