Question

In a socialist economy___________. A. the government owns all businesses, large and small.B. everyone works for government organizations.C. competition is restricted in major industries.D. consumers have a wide choice of goods and services.E. demand and supply have no role to play in the pricing of products and services.

Answer 1

The correct answer is (C)

Step-by-step explanation:

A communist or social economy is an economic system where competition is restricted in big companies or industries. Social economy is a system of creation where products and ventures are delivered legitimately for use, as opposed to an capital financial framework, where merchandise and enterprises are created to produce benefit.