socialist economy Synonyms

No Synonyms and anytonyms found

socialist economy Meaning

Wordnet

socialist economy (n)

an economic system based on state ownership of capital

socialist economy Sentence Examples

1. In a socialist economy, the government plays a dominant role in allocating resources and distributing goods and services.
2. Socialist economies typically prioritize economic equality and social welfare over private profit.
3. The government in a socialist economy owns and controls key industries, such as healthcare, transportation, and education.
4. Socialist economies often implement extensive social programs, such as universal healthcare and affordable housing.
5. Individual property rights are limited in a socialist economy, as the government collectivizes ownership of land and businesses.
6. Socialist economies prioritize government regulation of economic activity to prevent exploitation and promote social justice.
7. The distribution of wealth in a socialist economy is more equitable than in a capitalist economy, as the government redistributes income through taxation and social programs.
8. Government planning in a socialist economy aims to avoid economic imbalances, such as inflation or unemployment.
9. Socialist economies face challenges related to bureaucratic inefficiency, lack of innovation, and political corruption.
10. The debate over the effectiveness and desirability of socialist economies continues to be a subject of political and economic discourse.

FAQs About the word socialist economy

What is the meaning of the word socialist economy

an economic system based on state ownership of capital

What are the synonyms of the word socialist economy

No synonyms found.

What are the antonyms of the word socialist economy

No antonyms found.

What is the usage of word socialist economy

In a socialist economy, the government plays a dominant role in allocating resources and distributing goods and services.

Socialist economies typically prioritize economic equality and social welfare over private profit.

How to use the word socialist economy in a sentence?

The government in a socialist economy owns and controls key industries, such as healthcare, transportation, and education.

Socialist economies often implement extensive social programs, such as universal healthcare and affordable housing.