Question

How do socialist and communist economic systems differ? (1 point) Responses the amount of natural resources the amount of natural resources the amount of government ownership the amount of government ownership the amount of factories the amount of factories the amount of government representatives the amount of government representatives

Answer 1

The primary difference between socialist and communist economic systems lies in the extent of government ownership and control.

In a socialist system, the government owns and controls key industries and resources, but there is still room for private ownership and market forces. This means that while some industries may be nationalized and operated by the state, others can be privately owned and operated. Additionally, the government in socialist systems tends to have a mix of elected officials, representatives, and technocrats.

In contrast, a communist system aims for complete government control and ownership of all means of production and resources. There is no room for private ownership in a communist system, as all property and resources are commonly owned by the state or the community as a whole. Decision-making in a communist system is often centralized and made by a select group of government representatives who are seen as representing the interests of the people.

It is important to note that the distinction between socialism and communism can vary across countries and historical contexts, and there can be different interpretations and implementations of these systems.

Answer 2

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Answer 3

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