Question

l economic systems (capitalist, communist, or any other) face similar economic problems. Which of the following questions would NOT be faced by all economies? 1)How many resources will be devoted to maintaining and increasing future capacity?2)What will be produced and how?3)For whom will the goods be produced?4)How can markets be kept competitive?

Answer 1

I would say that the question "How can markets be kept competitive" would not be important for a communist or socialist society as production would not be to meet a world capitalist market price but would be for fulfilling the basic necessities of the people like healthcare and education and food and clothing as well as for mutually beneficial trade with other countries on an equitable basis.