Communism Primarily Relies on a System of ________

question 14

Multiple Choice

Communism primarily relies on a system of ________.

• A)private business ownership
• B)competitive pricing and marketing
• C)market-generated supply and demand
• D)government-controlled economic activity

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Definitions:

Unmet Needs

The gaps in the market where demand for a product, service, or solution exists but is not currently being met by the supply.

Entrepreneurs

Individuals who undertake the creation, organization, and management of a business venture, along with its risks, in order to make a profit.

Marketplace

A platform or environment where commercial transactions between buyers and sellers take place.

Opportunity Recognition

The ability to identify a viable idea or market gap that can be exploited for business or entrepreneurial purposes.