A major distinguishing feature between capitalist and socialist (or command)economies is that:
A)the average citizen is always wealthier in capitalist economies than in socialist economies.
B)decision making is typically decentralized in socialist economies and is centralized in capitalist economies.
C)resources are privately owned in capitalist economies and private property rights are enforced by a dictator in command economies.
D)resources are publicly owned in capitalist economies.
E)decision making is typically decentralized under capitalism,while it is centralized in command economies.

Question

Quizplus · Accepted Answer

In capitalist economies, decision making is typically decentralized, while it is centralized in command economies. This means that in capitalist economies, individuals and businesses make decisions based on their own self-interest, while in command economies, decisions are made by a central authority, such as the government. This is a major distinguishing feature between the two types of economies.

A Major Distinguishing Feature Between Capitalist and Socialist (Or Command)economies