Question

which statement is characteristic of a communist system? choose four answers. the government controls the means of production. prices and wages are set by supply and demand. the government regulates a centrally planned economy. entrepreneurs are encouraged to take risks. prices and wages are set by the government. businesses are free to follow their own best interests. a single authoritarian party holds complete power.

Explanation:

In a communist system, the government has significant control. It controls the means of production as it aims for collective ownership. A centrally - planned economy is regulated by the government to direct resources according to a plan. Prices and wages are set by the government rather than market forces (supply and demand). Also, historically, in some communist - like systems, a single authoritarian party (claiming to represent the working class) held complete power.
Options like "Prices and wages are set by supply and demand", "Entrepreneurs are encouraged to take risks", and "Businesses are free to follow their own best interests" are more characteristic of a capitalist system where market forces and private initiative play major roles.

Answer:

• The government controls the means of production.
• The government regulates a centrally planned economy.
• Prices and wages are set by the government.
• A single authoritarian party holds complete power.