The means of production in a socialist economy

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Which of the following statements is false?

A. Government owns the means of production in a socialist economy while individuals own the means of production in a capitalist economy.

B. The government allocates jobs in a socialist economy while individuals determine employment in a capitalist economy.

C. Production is planned by government in a capitalist economy while businesses typically plan production in a socialist economy.

D. The government determines prices in a socialist economy while markets determine prices in a capitalist economy.

Reference no: EM13996337

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