communist economy

What Are The Disadvantages Of A Communist Economic System?

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What Are The Disadvantages Of A Communist Economic System? The government owns everything, including property, businesses, and production means. The most significant disadvantage of communism is the fact that it eliminates the free market from domestic society. That means there are no laws of supply and demand available to set the prices for consumers to

How Does Communism Affect The Economy?

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How Does Communism Affect The Economy? Communism has a centrally planned economy; it can quickly mobilize economic resources on a large scale, execute massive projects, and create industrial power. It can move so effectively because it overrides individual self-interest and subjugates the welfare of the general population to achieve critical social goals. What happens in