ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the government controls the means of production
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the individual owns the means of production
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wealth is distributed evenly amongst society
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there is no wealth or private property
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Detailed explanation-1: -There is no government or private property or currency, and the wealth is divided among citizens equally or according to individual need. Many of communism’s tenets derive from the works of German revolutionary Karl Marx, who (with Friedrich Engels) wrote The Communist Manifesto (1848).
Detailed explanation-2: -Key Differences Between Communism and Socialism Under communism, there is no such thing as private property. All property is communally owned, and each person receives a portion based on what they need.
Detailed explanation-3: -In another version of this same analysis, Marx argues that private property is a form of theft where owners are stealing from the workers. The idea of alienation is Marx’s social critique of the market, and this idea of theft is his economic critique of the market.
Detailed explanation-4: -A communist society is characterized by common ownership of the means of production with free access to the articles of consumption and is often classless, stateless, and moneyless, implying the end of the exploitation of labour.
Detailed explanation-5: -Classless society. A classless society is where there are no differences between the rich and the poor. Common ownership of all resources. For society to be classless, people need to abolish the existing system of control and division. Private property. Social equality. Against democracy.