Which of the following economic systems is also a social organization in which all property is held in common, the wealth is redistributed among the different social classes and the government controls all land, labor and capital? us government

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Business

Nico Hull

17 August, 20:29

Which of the following economic systems is also a social organization in which all property is held in common, the wealth is redistributed among the different social classes and the government controls all land, labor and capital? us government

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Maya Hobbs · Answer 1

Communism

Explanation:

Communism is an ideology that was developed by great Karl Marx and Frederick Engels advocating for a classless society so they came up with the idea of communism to eliminate the exploitation of workers and resources by few. And what is: Communism can also be referred to as a command system, this is an economic system where the government holds most of the factors of production (land, labor, capital) and determines the distribution of resources and what goods and services will be provided.