Asked by
Madison Driggers
on Nov 22, 2024Verified
What distinctive feature characterizes a communist economic system?
A) state ownership of property
B) competition in the pursuit of collective profit
C) private ownership of the military
D) a free market
Communist Economic System
An economic model where all means of production are owned by the community as a whole, aiming for a classless society where goods are distributed based on need.
State Ownership
Refers to the government control or ownership of businesses or assets.
- Understand the defining characteristics of different economic systems.
Verified Answer
JT
Learning Objectives
- Understand the defining characteristics of different economic systems.