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Which of the Following are Characteristics of a Socialist Economic System? Check all that apply.
a
Workers share equally in profits
b
Competition is best for society
c
Prices are set by the market
d
Cooperation is best for society
e
Prices are set by the government
f
Entrepreneurs deserve profits
A (Workers share equally in profits) and D (cooperation is best for society)
Explanation:
Socialism involves the democratic ownership of companies, in which the workers decide what to manufacture and sell and how much to charge, as well as how to distribute income.
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