ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Communism is another word for this economy.
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Command Economy
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Mixed Economy
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Market Economy
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None of the above
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Explanation:
Detailed explanation-1: -The command economy is a component of a communist political system, while a free market system exists in capitalist societies.
Detailed explanation-2: -The production of goods and services under capitalism is based on supply and demand in the general market-known as a market economy-rather than through central planning-known as a planned economy or command economy.
Detailed explanation-3: -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.
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