In the small nation of Equalia, the government owns several of the key businesses and provides a wide range of social services. The government places a great deal of emphasis on eliminating large disparities in people's incomes. These features of Equalia's economy are consistent with a socialist economic system.

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The characteristics described are consistent with a socialist economic system, which emphasizes government ownership of businesses and social services, as well as reducing income inequality.

In the Small Nation of Equalia, the Government Owns Several