Which of the following statements is false?

A) Critics feel that wage and price controls interfere with the price mechanism.
B) Sweden has one of the world's most equal distributions of income,but also has a relatively low standard of living.
C) In the former Soviet Union,most of the crops were produced on collective farms.
D) The price system is based on supply and demanD.

Price Mechanism

The system in which the forces of supply and demand determine the prices of goods and services in a market economy.

Wage

Compensation in the form of financial payment received by an employee from an employer in exchange for work performed.

Price Controls

Government regulations establishing maximum or minimum prices to be charged for specified goods and services, often intended to manage inflation or protect consumers.