USA HISTORY

Detailed explanation-1: -In theory, a communist economy is one in which the government owns all or most enterprises. Central planning by the government dictates which goods or services are produced, how they are produced, and who will receive them.

Detailed explanation-2: -The main advantage comes from the fact that industrialization gives us more goods that can be bought at affordable prices. When an economy industrializes, things are made more rapidly and in higher quantity. This means prices can go down and a lot of other goods can be made.

Detailed explanation-3: -The Industrial Revolution shifted from an agrarian economy to a manufacturing economy where products were no longer made solely by hand but by machines. This led to increased production and efficiency, lower prices, more goods, improved wages, and migration from rural areas to urban areas.