COLD WAR ERA
IMPACT OF COLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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private citizens
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the government
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the dictator
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None of the above
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Detailed explanation-1: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society.
Detailed explanation-2: -Socialism is the social and economic doctrine that espouses public over private ownership and control of property and natural resources.
Detailed explanation-3: -Notes:-In the Soviet system of communism the state controls all property and economic activity. In the Soviet Union there are no political parties under the totalitarian government.
Detailed explanation-4: -Command economies, where the government determines output levels and prices, come with many advantages, which include low or non-existent unemployment, speed in decision-making, equality amongst citizens, and a focus on the worker as opposed to profits.