Log in
Economics
1
answer
0
watching
50
views

Which of the following does the government do in a socialist country?
A. Ensure free choice for consumers.
B. Guarantee property rights.
C. Protect the profit motive.
D. Set prices for goods and services.

Watch
1
answer
0
watching
50
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Divya Singh
Divya SinghLv10
20 Oct 2020

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

In a socialist society, the government does not do which of the following:
A). set prices for goods and services
B). Rations good and services
C). Provides freedom of choices for producers
D). Decides where people work
In a socialist society, the government does not do which of the following:
A). Set prices for goods and services
B). Rations good and services
C). Provides freedom of choices for producers
D). Decides where people work

In our free market system here in the United States, consumers determine demand for goods and services. They essentially guide the production with their dollar “votes.” In socialist countries groups of government planners determine what will be produced and at what price. What are the advantages and disadvantages of each system? Why has our free market succeeded far better than the socialist one where the government plans production?

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in