Over the twentieth century,two fundamentally different types of economic systems have competed for people's allegiance.They are

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Throughout the twentieth century, the two primary economic systems that competed for people's allegiance were capitalism and socialism. Under capitalism, the market plays a significant role in determining prices and allocating resources, whereas socialism involves central planning and government ownership of property and resources. While there have been variations within each system, these two economic models have been the dominant ones throughout the century. The other answer choices are not accurate; there was no "socialist management" economy, and communism is often considered a type of socialism rather than a separate economic system.

Over the Twentieth Century,two Fundamentally Different Types of Economic Systems