ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market
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Command
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Traditional
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Mixed
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Detailed explanation-1: -Cuba is one of a few extant Marxist–Leninist one-party socialist states, in which the role of the vanguard Communist Party is enshrined in the Constitution. Cuba has an authoritarian regime where political opposition is not permitted.
Detailed explanation-2: -Cuba has had a socialist political system since 1959 based on the “one state – one party” principle. Cuba is constitutionally defined as a Marxist–Leninist state.
Detailed explanation-3: -The economy of Cuba is a mixed command economy dominated by state-run enterprises. Most of the labor force is employed by the state.
Detailed explanation-4: -What kind of economy does Cuba have? Cuba has what’s known as a command economy, where government decisions-not market forces of supply and demand-largely determines the production, availability and value of goods.