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What is communism? economic and political system in which the government owns production a belief in reducing or limiting military armaments economic system in which privately owned businesses compete in a free market the belief of people who oppose all organized government

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The correct answer is: economic and political system in which the government owns production.

Answer;

Economic and political system in which the government owns production

Explanation;

  • Communism is a political system characterized by a centrally planned economy with all economic and political power and economic decisions resting in the hands of the central government.
  • Capitalism on the other hand is an economic system based on open competition in a free market, in which private individuals and companies own the means of production and operate for profit.
  • Communism is the idea that society should be based on public ownership and communal control of property.

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