Asked by Vikki Yager on Jul 11, 2024

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A major distinguishing feature between capitalist and socialist (or command) economies is that:

A) the average citizen is always wealthier in capitalist economies than in socialist economies.
B) decision making is typically decentralized in socialist economies and is centralized in capitalist economies.
C) resources are privately owned in capitalist economies and private property rights are enforced by a dictator in command economies.
D) resources are publicly owned in capitalist economies.
E) decision making is typically decentralized under capitalism,while it is centralized in command economies.

Capitalist

An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.

Socialist Economies

Economic systems based on collective or governmental ownership of the means of production and distribution of goods, where allocation is based on equality or need.

  • Differentiate capitalist economies from command (or socialist) economies regarding property rights, decision-making processes, and the mechanism of economic coordination.
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DP
Davion ParkerJul 11, 2024
Final Answer :
E
Explanation :
In capitalist economies, decision making is typically decentralized, while it is centralized in command economies. This means that in capitalist economies, individuals and businesses make decisions based on their own self-interest, while in command economies, decisions are made by a central authority, such as the government. This is a major distinguishing feature between the two types of economies.