Questions: Multiple Choice Question In an economic and political system called communism, - there is an abundance of goods and services - buyers and sellers decide what needs to be produced and by how much - the government owns almost all the factors of production - production is based on free markets

The answer is the government owns almost all the factors of production.

This option is incorrect. While communism aims to create a classless society with equal distribution of resources, it does not inherently guarantee an abundance of goods and services. In practice, many communist systems have faced shortages due to centralized planning inefficiencies.

This option is incorrect. In a communist system, the government typically makes decisions about production and distribution, rather than relying on market forces and individual buyers and sellers.

This option is correct. In a communist system, the government or the state owns and controls the major means of production, such as land, labor, and capital, with the aim of eliminating private property and achieving economic equality.

This option is incorrect. Free markets are characteristic of capitalist systems, where supply and demand determine production and prices. In communism, the government plans and controls the economy, rather than relying on market forces.