Which of the following statements is true about communism?
A)It is characterized by the government owning and operating most businesses.
B)It relies on supply and demand to make decisions about pricing and production of goods.
C)It encourages private ownership of the means of production.
D)It encourages free market and competition.
E)It provides scope for the production of a large variety of goods and services.

Question

Quizplus · Accepted Answer

Communism is characterized by the idea that the government, or the community as a whole, owns and controls the means of production, rather than individuals or corporations. This includes businesses, land, and resources, with the aim of eliminating class distinctions and creating equality among citizens.

Which of the Following Statements Is True About Communism