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Which of the following is true of a market economy,but not true of a communist system?

User Durrrutti
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2 Answers

10 votes

Final answer:

A market economy is characterized by private ownership of resources and decentralized decision-making, while a communist system involves government ownership of resources and centralized decision-making.

Step-by-step explanation:

Market economies and command economies are two different types of economic systems. In a market economy, individuals and firms own and operate the means of production, and decisions about what to produce are made by individuals and firms based on supply and demand. On the other hand, in a communist system, the government owns and controls the resources and makes decisions about what to produce and how to distribute the benefits.

User Alex Maystrenko
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12 votes

Answer:

A market economy includes free trade with limited governmental interference, A communist system is closed trade and every aspect of trade is determined by the government.

Step-by-step explanation:

User George Hanson
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