Question: Which statement is true regarding a socialist system of economy? All economic decisions are made without government intervention. Competition, supply, and demand determine which

Which statement is true regarding a socialist system of economy? All economic decisions are made without government intervention. Competition, supply, and demand determine which goods and services are produced and how they are produced. Individuals own and operate the majority of businesses that provide goods and services. Central planning determines what basic goods and services are produced. Consumers have a wide choice of goods and services.

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