What are the ways that the state may relate to the economy? This is for my pol

a. Discuss there are two fundamental questions to consider when examining the state and the economy: first, how much of the economy should the state own or supervise? Second, how much of the nation’s wealth should be redistributed to help the poor?
b. Discuss each of four options. Statism has high levels of state ownership in the economy but low levels of welfare benefits. In these systems, sometimes the government is the only entity equipped to run certain businesses. However, the lack of competition is inefficient.
c. Discuss how in socialist systems the government has state ownership of industry and provides generous welfare benefits.
d. Discuss how in Laissez-faire systems, the government has little ownership and provides little welfare benefits. The system can produce a great deal of wealth; however, the wealth is concentrated in the hands of the few.
e. Discuss the welfare state, where there is little government ownership but there are generous welfare benefits. These are also known as social democracies.

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