Which system has complete public ownership of the means of production?
(1 point)
free enterprise
market economies communist economies mixed economies
The system that has complete public ownership of the means of production is communist economies.
Why are traditional economies sustainable?
(1 point)
They produce little waste.
They have specialized jobs.
They have a central authority.
They can meet their needs over time.
Traditional economies are typically considered sustainable because they can meet their needs over time. In these economies, individuals rely on traditional methods passed down through generations to produce goods and services, ensuring long-term viability and self-sufficiency. Additionally, traditional economies tend to produce little waste and often involve specialized jobs, which further contribute to their sustainability. While some traditional economies may have a central authority, this is not a defining characteristic of their sustainability.
8. 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
Socialist and communist economic systems differ in terms of the amount of government ownership. In a socialist system, there is typically a mix of public and private ownership, with the government owning some key industries and resources. On the other hand, in a communist system, the government owns and controls all means of production and resources. Therefore, the main difference lies in the extent of government ownership. The amount of natural resources, factories, and government representatives can vary in both socialist and communist systems, but these do not necessarily differentiate the two.
What determines the distribution of goods and services in a communist economic system?
(1 point)
consumer spending supply and demand government planning traditions and beliefs
In a communist economic system, the distribution of goods and services is typically determined by government planning. The central government decides how resources should be allocated, what goods should be produced, and how those goods should be distributed among the population. This is done with the aim of meeting the needs and priorities established by the government and ensuring equitable distribution to the citizens. Consumer spending and supply and demand, which play a role in market-based systems, have less influence in a communist system. Traditional and cultural beliefs can also have some influence, but the primary determinant is typically government planning.
True or False: The distribution of goods and services in socialist economic systems is determined by consumer spending.
(1 point)
true false