What is communist economy?
Dear Student,
The economy in which the political, economic ideology of communism is followed and the ultimate goal of which is the establishment of a communist society, namely a socioeconomic order structured upon the ideas of common ownership of the means of production and the absence of social classes, money, and the state is called a communist economy.
Examples of communist economies are China, Cuba, North Korea, Vietnam.
Regards
The economy in which the political, economic ideology of communism is followed and the ultimate goal of which is the establishment of a communist society, namely a socioeconomic order structured upon the ideas of common ownership of the means of production and the absence of social classes, money, and the state is called a communist economy.
Examples of communist economies are China, Cuba, North Korea, Vietnam.
Regards