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Questions and Answers
In a communist system, who owns and controls goods and services?
In a communist system, who owns and controls goods and services?
- Private individuals
- The government (correct)
- Non-profit organizations
- Foreign investors
What is one advantage of communism?
What is one advantage of communism?
Everyone is guaranteed a job and there is a fair distribution of wealth.
What is one disadvantage of communism?
What is one disadvantage of communism?
Personal freedom is lost and there are no incentives to work hard.
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Study Notes
Communist System Overview
- In a communist system, the government holds ownership over all goods and services.
- Centralized control aims to eliminate private property in favor of communal ownership.
Advantages of Communism
- Employment is guaranteed for everyone, reducing unemployment rates.
- Wealth is distributed more equally among the population, aiming to minimize economic disparity.
- Basic needs such as healthcare, education, and housing are provided universally.
Disadvantages of Communism
- Personal freedoms and individual choices are often restricted under state control.
- Lack of incentives can lead to reduced motivation for hard work and innovation.
- Economic stagnation may occur due to the absence of competition and personal profit motivations.
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