Which statement is characteristic of a communist system? Choose four correct answers.

In a communist system, the government directs the economy rather than leaving major decisions to individuals or businesses. It plans production and regulates the economy, controls the means of production, and typically sets prices and wages. Communist systems are also commonly characterized by one authoritarian ruling party. Therefore, the correct choices are government-set prices and wages, a centrally planned economy, one party holding power, and government control of production.

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