Socialist economic system,. An economic system that has an economic function, ie the state will determine the plan that society must produce goods and services, something about how much to produce and how to produce, to whom the ownership of the property or resources are owned by the state, so the decision. the economies of countries that use this system.
The Socialist economic system is the economy with various acts, that is, economic units, the State will determine the plan that our society will have to produce the goods and services in the production and how to resource permissions for property transactions or who usually belong to the State, so. The country's economic decisions that apply this system comes from the decision of the Government or the centralized planning.