What is communism as an economic system?
1: An economic system where private individuals control the means of production
2: A system where the government owns and controls all means of production and property
3: A system where the market sets prices based on supply and demand
4: A form of capitalism with limited government intervention
Answer
A system where the government owns and controls all means of production and property
Explanation
In communism, the state owns all property and controls economic activities, aiming for a classless society with equal distribution of wealth.