Which statement is characteristic of a communist system? Choose four answers.The government controls the means of production.Prices and wages are set by supply and demand.The government regulates a centrally planned economy.Entrepreneurs are encouraged to take risks.Prices and wages are set by the government.Businesses are free to follow their own best interests.A single authoritarian party holds complete power.

In a communist system, the government controls the means of production and directs a centrally planned economy. It typically sets prices and wages rather than leaving them to supply and demand. Communist systems are also characteristically governed by a single authoritarian party with complete power. Therefore, the correct choices are the government controlling production, regulating the planned economy, setting prices and wages, and single-party rule.

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