WORLD WAR II
CAUSES AND COURSE OF THE WORLD WAR II
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the role of government in the economy is restricted by law
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investment is encouraged by the promise of large profits
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government agencies are involved in production planning
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entrepreneurs sell shares in their companies to the government
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Detailed explanation-1: -A communist, or command economy, controls the means of production by having governmental agencies involved in production planning. Which is generally a characteristic of a communist economy? In a command economy, such as that of the communist Soviet Union, the government controls all aspects of production.
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 communism, the state owns the means of production and controls the economy. The state centralized economic planning and decision-making. In a communist society, there is no private property. The state owns all property and the means of production.
Detailed explanation-4: -In a command economy, the government determines all investments and incomes, it also determines the amount at which the goods that are produced are sold. Communist societies such as Cuba, Soviet Union and North Korea use command economy.