Question

Cooper's native country of Evensplitia was much different from the United States. In addition to its higher tax rates, the government offered more extensive social programs that were designed to redistribute income and reduce inequality. Although small businesses were privately owned and operated in Evensplitia, many basic industries were owned and operated by the government. From this information, you would classify Evensplitia's economic system as ___________.

Answer 1

Answer:Evensplitia operated SOCIALISM

Explanation:

Socialism is a political and economic system where every individual in the society controls the factors of production, it's means and distribution eg machinery, tools, factories used to produce goods to directly satisfy human wants and needs.

Here, ownership is acquired either through a democratically elected government or through a cooperative or a public corporation and everyone has shares.

Distribution decisions are made by the government or public corporation and individuals depend on the state for every basic thing. The government determines the output and pricing levels of these goods and services for the benefit of the community.

Answer 2

The Correct Answer is: Evensplitia operated SOCIALISM

Socialism

• When according to Socialism is a political and also the economic system where every individual in the society controls the factors of production, also its means, and also that is distribution eg machinery, tools, factories are used to produce goods to directly satisfy human wants and also needs.
• Here, when the ownership is acquired either through a democratically elected government or also through a cooperative or a public corporation and also everyone has shared.
• When the Distribution decisions are made by the government or public corporation and also individuals depend on the state for every basic thing.
• When The government determines the output and also pricing levels of these goods and also that services for the benefit of the community.

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