Which of these characteristics best describes a Communist economy? Company owners sell shares in their companies to the government. The concept of supply and demand drives prices. By law, the role of government in the economy is limited. Production planning is done by government agencies.

Question

History

Victor Summers

7 August, 15:58

Which of these characteristics best describes a Communist economy? Company owners sell shares in their companies to the government. The concept of supply and demand drives prices. By law, the role of government in the economy is limited. Production planning is done by government agencies.

+3

Answers (1)

Know the Answer?

Jade Preston · Answer 1

In a communist economy, production planning would be handled by government agencies. In this system there is very limited role for private companies if not entirely absent all together. The government is largely responsible for all major economic planning.