Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine production and pricing decisions.What kinds of economy is Alex living in?

Question

Quizplus · Accepted Answer

Market socialism is a type of economic system where the means of production are either publicly owned or cooperatively owned but operates in a market economy. It allows for some private ownership and uses market forces for determining production and pricing, which aligns with the description given.

Alex's Country Was Once Communist, but Now Allows Limited Private