Social Sciences, asked by piyuraut74, 1 month ago

explain the nature of the socialist economy​

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Answered by michaeljohnjohn85
1

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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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