In a communist economy,
A) The state controls the means of production
B) Individuals decide what to produce, how to produce it and who gets it
C) Economic decisions are decentralized
D) The market system is used to allocate resources

Question

Quizplus · Accepted Answer

A communist economy is characterized by state ownership and control over the means of production, distribution, and exchange of goods and services. This means that the state determines what goods and services are produced, sets the prices, and decides how resources are allocated. The goal is to achieve a classless society where resources are distributed equally among all members.

In a Communist Economy