ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Communism
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Capitalism
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Either A or B
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None of the above
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Detailed explanation-1: -In a communist society, there is no such thing as private property. The state owns all property and the means of production.
Detailed explanation-2: -Communist philosophy argues against private property and supports collective ownership. This philosophy applies specifically to intellectual property and software. The common view is that no person should on their own or control any property, whether electronic, merely an idea, or otherwise.
Detailed explanation-3: -According to Marx, the property right as a right of man and as the foundation of the government is inextricably intertwined with a man’s life, his personality and his relationship with the others (Sichel, 1972: 356). “As individuals express their life, so they are.
Detailed explanation-4: -Classless society: Common ownership of all resources: Private property: Social equality: Against democracy: