Communism

What it is

Communism

The Government owns and makes all decisions concerning the economy, holds all political power and determines the the distribution of good and services

Example : North Korea

Economy Of Communism

The communist economic system is one where class distinctions are eliminated and the community as a whole owns the means to production. The Government controls the Economy, As well as makes all decisions.

Communism vs Socialism

Socialism - a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

Communism - The Government owns and makes all decisions concerning the economy, holds all political power and determines the the distribution of good and services