A ________ is a system in which the government owns a nation's land,factories,and other economic resources.

Question

Quizplus · Accepted Answer

In a centrally planned economy, the government has complete control over the allocation of resources and the production and distribution of goods and services. This means that the government owns the land, factories, and other economic resources. In contrast, a mixed economy is a system in which both the government and private individuals and businesses play a role in owning and operating economic resources, while a market economy is characterized by private ownership and control of resources and minimal government intervention. Laissez-faire economics refers to a system where the government does not interfere in the market at all.

A ________ Is a System in Which the Government Owns