QuestionMay 9, 2025

Which of the following is true? Communism is an economic system that is based primarily on the private ownership of the means of production. Today, roughly 30% of the labor force is unionized. Market domination by a few companies is called welfare capitalism. A capitalist economy is synonymous with a "free market economy"

Which of the following is true? Communism is an economic system that is based primarily on the private ownership of the means of production. Today, roughly 30% of the labor force is unionized. Market domination by a few companies is called welfare capitalism. A capitalist economy is synonymous with a "free market economy"
Which of the following is true?
Communism is an economic system that is based primarily on the private ownership of
the means of production.
Today, roughly 30%  of the labor force is unionized.
Market domination by a few companies is called welfare capitalism.
A capitalist economy is synonymous with a "free market economy"

Solution
4.1(285 votes)

Answer

None of the statements are true. Explanation The statements provided contain inaccuracies. Communism is based on collective ownership, not private. Unionization rates vary but are lower than 30%. Market domination by few companies refers to oligopoly, not welfare capitalism. A capitalist economy often aligns with a free market, but they aren't synonymous.

Explanation

The statements provided contain inaccuracies. Communism is based on collective ownership, not private. Unionization rates vary but are lower than 30%. Market domination by few companies refers to oligopoly, not welfare capitalism. A capitalist economy often aligns with a free market, but they aren't synonymous.
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