How do socialist and communist economic systems differ?
(1 point)
the amount of natural resources
the amount of government ownership
the amount of factories
the amount of government representatives
The correct answer is:
- the amount of government ownership
In a socialist economic system, there is a significant amount of government ownership and control over the means of production and distribution of goods and services. The government owns and operates industries, utilities, and essential services. However, there can also be private ownership of assets and businesses in certain sectors.
In a communist economic system, the government owns and controls all means of production, distribution, and exchange. Private ownership does not exist, and all resources and production are held collectively. This includes land, factories, and other means of production.
The other options mentioned (the amount of natural resources, the amount of factories, and the amount of government representatives) do not necessarily differ significantly between socialist and communist economic systems. These factors depend on the specific political and economic context in each country adopting these ideologies.