In which of the following systems all the economic decisions are taken – InterviewSolution

1.	In which of the following systems all the economic decisions are taken by the state ministry
Answer» socialist system all ECONOMIC decisions are are taken by the state ministryExplanation:In a socialist system all economic decisions are centralized in the state's hands with "collective ownership" of resources (but for labour)Socialism is the economic and social doctrine which promotes public ownership & ownership of resources & property. Since everyone participate in the way of LABOR to society, Socialists claim, everyone will benefit.The extent to which socialists own or control is different. Some people believe the govt must own most resources &property, while others believe that small companies should be PRIVATE OWNERS. Some, particularly the wealthy, think it is a form of socialism simply to tax the rich moreTo KNOW morewhat is the socialist system - Brainly.inbrainly.in/question/2450979

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