Asked by Anamari Kolak on Apr 25, 2024
Unlike capitalism, communism:
A) gives individuals the right to decide how to use their capital.
B) is governed by a single person.
C) calls for the workers themselves to organize the economy.
D) operates under market forces.
Communism
A political and economic ideology that aims at creating a classless society in which the means of production are owned and controlled by the community as a whole.
Capitalism
An economic system based on private ownership of the means of production and their operation for profit.
- Discriminate between the characteristics of market-based economies and those of command-based economies.
Learning Objectives
- Discriminate between the characteristics of market-based economies and those of command-based economies.