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synoptic table - Coggle Diagram
synoptic table
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Conclusion Paragraph
The government manages the use of resources and the production of products or services that the people need, which is referred to as central planning.
Socialism is a left-wing political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production.
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Societies along such a continuum may continue to designate themselves as either capitalist or socialist, but they are likely to reveal as many similarities as differences in their solutions to economic problems.
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Cuba, and china have strong elements of socialist market economies.
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advocates public ownership and cooperative management of the means of production and allocation of resources
A socialist market economy is a system of government that attempts to strike a balance between pure capitalism and social welfare.
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