Socialist Economy vs Demand Driven Economy

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LogicalMagnolia
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18 Questions

What is the primary goal of public service according to the passage?

To serve the people impartially

What is the main challenge in determining public interest?

Separating public from private interests

Which system serves as the voices of different sectors in the passage?

Partylist system

What is the result of ignoring certain voices in society?

Loud voices emerging

What is the main difference between public service ethics and private life ethics?

Focus on profit vs. non-profit

What is the underlying conflict in the example of high heat index and electricity demand?

Public interest vs. private profit

What is the primary goal of the restorative justice approach in the criminal justice system?

To repair harm caused by the offense and promote healing

What type of evidence is used when there is no direct proof of a crime?

Circumstantial evidence

What is the main reason for an acquittal in a criminal trial?

The prosecution failed to prove the accused committed the crime

Which country is an example of successful economic development and restoration?

All of the above

What is a key characteristic of a capitalist society?

Free market and private sector investment

What is the primary argument against government regulation in a capitalist society?

It stifles innovation and competition

What is a characteristic of a socialist economy?

Government ownership of resources and means of production

What is a disadvantage of a socialist economy?

Government prioritization of different sectors

What is the economic system of the Philippines?

Mixed economy

What is an advantage of a mixed economy?

Flexible allocation of resources

What is a role of government in a mixed economy?

Regulation of the private sector

What is a difference between capitalist and socialist economies?

Role of government in the economy

Understand the key differences between a socialist economy and a demand-driven economy. Learn how ownership and resource allocation work in each system, and their implications on society.

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