Question

learning: economics and banking
question
which of the following is a concern with a communist system?
answer
communist states often have a shortage of goods and services.
the private ownership of resources leads to monopolies.
it has a solitary focus on profitability.
the private ownership of industries lessens competition.
i dont know yet
submit

Explanation:

To determine the concern with a communist system, we analyze each option:

• "Communist states often have a shortage of goods and services" is a known issue in communist systems due to central planning inefficiencies, lack of market signals, and misallocation of resources, leading to insufficient production of goods and services.
• "The private ownership of resources leads to monopolies" is a concern of capitalist systems, not communist (where resources are publicly owned).
• "It has a solitary focus on profitability" is incorrect as communist systems focus on collective welfare, not profitability.
• "The private ownership of industries lessens competition" is also a capitalist - related concern (private ownership in capitalism can lead to less competition via monopolies, but communist systems have public ownership of industries).
• "I DON'T KNOW YET" is not a valid option for identifying a concern.

Answer:

A. Communist states often have a shortage of goods and services.