An economic theory that stresses government management of the production and distribution of goods is:
Answer (3)
It is a socialist theory that defends state control over the economy, rather than the free market. In this type of model the economy is considered command economy or planned economy.
Planned Economics is a production system that disregards competition. In this type of model the state controls the country's means of production and foreign trade. It is a statist and extremely protectionist model that adopts heterodox economic policies, such as price and quantity controls. This type of economy is predominantly in communist countries such as North Korea.
An economic theory that stresses government management of the production and distribution of goods is Socialism. ;
Socialism is an economic theory where the government manages the production and distribution of goods to promote social equity. It focuses on government ownership of industries, wealth redistribution, and economic planning. This system aims to ensure equal access to resources for all members of society.
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