ECONOMICS
ECONOMIC SYSTEMS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Private property will be abolished
|
|
|
Some people will be richer than other people
|
|
|
People will work
|
|
|
People would be of the same social class
|
Detailed explanation-1: -Communism is based on the goal of eliminating socioeconomic class struggles by creating a classless society in which everyone shares the benefits of labor and the state controls all property and wealth.
Detailed explanation-2: -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-3: -In a true communist economy, the community makes decisions. In most communist countries, the government makes those decisions on their behalf. This system is called a command economy. The leaders create a plan that outlines their choices, and it’s executed with laws, regulations, and directives.
Detailed explanation-4: -People are equal. Every citizen can keep a job. There is an internally stable economic system. Strong social communities are established. Competition doesn’t exist. Efficient distribution of resources.