Under communist theory, what determines how much of each good and service is supplied?

1 answer:

soldier1979 [14.2K]2 years ago

7 0

Under communist theory, Community central planning determines how much of each good and service is supplied.

Community central planning entails that the government owns and distributes the factors of production and hence they determine how much of each good and service is supplied.

<h3>What is Communism?</h3>

Communism is a system of government where the factors of production such as land, labor etc. are firmly under the control of the government.

This type of economy is also referred to as command economy.

In communism, the government determines how much of a good or service that will be supplied because they control the factors of production that drives commerce.

Learn more about Communism at brainly.com/question/12173354

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