Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine produ

Question

4 years ago

11

Alex's country was once communist, but now allows limited private ownership of companies, and lets market forces determine produ

ction and pricing decisions. what kinds of economy is alex living in?
a. market communist
b. market socialist
c. capitalist
d. democratic

Business

1 answer:

gizmo_the_mogwai [7] · Answer 1 · 2021-12-07T05:21:27+03:00

I would say that his country could be called 'market socialist' since his country was communist but socialism must take place before communism can result (ie in socialism it is from each according to his ability to each according to his work compared to communism where it is from each according to his ability to each according to his need). Also, though the economy will be controlled by the marked, presumably most of the production will still go to improve the welfare of the people.