Question

In centralized economies (China, Cuba, Vietnam) the government owns a large part of the factors of production

A. and the governments of market economies also own businesses.
B. unlike in market economies, where the private sector owns businesses.
C. and free-trade capitalism offers an alternative, with no government-owned businesses.
D. and these centralized economies avoid competition with free-traders.

Answer 1

In centralized economies, the government owns a large part of the factors of production, unlike in market economies where the private sector owns businesses.

Step-by-step explanation:

In centralized economies like China, Cuba, and Vietnam, the government owns a large part of the factors of production. This is different from market economies, where the private sector owns businesses. In a centralized economy, the government exerts control over what is produced, how much is produced, and the price for goods and services.

However, it is important to note that no country is a pure command economy or a pure market economy. Countries mix elements of both systems to varying degrees. For example, some countries have mixed economies where key industries are nationalized and directly controlled by the government, while most businesses are privately owned and regulated by the government.