1. Under socialism, ownership (or control) of physical capital rests with the state. Central planning replaces market...

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1. Under socialism, ownership (or control) of physical capital rests with the state.

Central planning replaces market allocation as the method of answering basic consumption, production, and distribution questions.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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Question Posted: Oct 25, 2024 09:08 AM

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1. Under socialism, ownership (or control) of physical capital rests with the state. Central planning replaces market...

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Economics Private And Public Choice

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