Section 5
Businesses Under Communist Systems
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3 concepts
The Communist Economic System
The communist economic system is one where class distinctions are eliminated and the community as a whole owns the means to production.
The Benefits of Communism
Communism ideology supports widespread universal social welfare, including improvements in public health and education.
The Disadvantages of Communism
Businesses under Communist system have very strict limitations as to what they can and cannot do, which can hamper productivity and innovation.