Weegy: User: An economic system wherein individuals and corporations own the means of production and work to earn a profit for themselves is called C. a socialist system.
User: Which of the following is true of the federal budget?
A. It is a joint process of the executive branch and Congress.
B. The federal budget impacts states, but has very little effect on individuals.
C. The government is required to have a balanced budget every year.
D. All of the above.
(More) 
