Which of the Following Statements Is True About Communism

question 37

Multiple Choice

Which of the following statements is true about communism?

• A)It is characterized by the government owning and operating most businesses.
• B)It relies on supply and demand to make decisions about pricing and production of goods.
• C)It encourages private ownership of the means of production.
• D)It encourages free market and competition.
• E)It provides scope for the production of a large variety of goods and services.

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Definitions:

Decision Making

Decision making involves choosing between two or more options or courses of action based on reasoning, preferences, or available information.

Transitional Thinking

Involves adapting one's mindset and approach in response to changing circumstances or moving from one phase of life to another.

Self-Serving Bias

The common tendency to attribute our successes to personal characteristics and our failures to external factors.

Total Egocentrism

A cognitive state where an individual is unable to differentiate between their own perspective and that of others, typically seen in early childhood development.