Which of the following statements is true about socialist economy?
A) It is an economic system that is based on private ownership, economic freedom, and fair competition.
B) Tax revenues fund services that citizens in free enterprise systems would have to pay for themselves.
C) The dynamic interaction between buyers and sellers decides the prices in the market.
D) Enterprises are run efficiently in the best interest of the government.

Question

Quizplus · Accepted Answer

In a socialist economy, the government often provides services funded by tax revenues, which citizens would otherwise have to pay for in a free enterprise system.

Which of the Following Statements Is True About Socialist Economy