Future Business Leaders of America (FBLA) Agribusiness Practice Test

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How is communism defined in terms of economic control?

  1. The government shares control with private individuals

  2. There is no private ownership of resources

  3. Individuals have full autonomy in resource management

  4. It encourages competition among businesses

The correct answer is: There is no private ownership of resources

Communism is characterized by the absence of private ownership of resources. In a communist economic system, all means of production and resources are owned collectively by the state or the community as a whole, and there is no private property. This central control is intended to eliminate the inequalities and class struggles that often arise in capitalist economies where individuals can own and manage personal resources for profit. The focus of communism is on equal distribution and the idea that goods and services are provided according to need rather than profit. This contrasts sharply with economic models that allow for private ownership, as would be seen in systems where individuals possess and manage resources independently. In essence, the collective ownership inherent in communism aims to promote economic equality and eliminate the concept of wealth accumulation by individuals.

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