Explain the advantages and disadvantages of socialist economic system.
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The benefits of socialism also include the following: In theory, based on public benefits, socialism
has the greatest goal of common wealth; Since the government controls
almost all of society's functions, it can make better use of resources,
labors and lands; ... Socialism can tackle unemployment to a great extent.
There are advantages and disadvantages of command economy structures. Command economy advantages include low levels of inequality and unemployment and the common good replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency.
There are advantages and disadvantages of command economy structures. Command economy advantages include low levels of inequality and unemployment and the common good replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency.
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