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Government Ownership
The scenario where the government owns and operates business enterprises, typically in key sectors like transportation or utilities.
Private Property
Refers to land, buildings, or possessions owned by individuals or entities and not by the government or public organizations.
Economic Systems
The structured and organized methods by which societies allocate resources, distribute goods and services, and manage economic activity.
Factors of Production
are the inputs necessary for the creation of goods and services, which typically include land, labor, capital, and entrepreneurship.
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