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Which statement is characteristic of a communist system? Check all that apply. 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.

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The correct answers are "The government controls the means of production", "The government regulates a centrally planned economy", "Prices and wages are set by the government" and "A single authoritarian party holds complete power". A communist system is characterized by an authoritarian federal figure, which has absolute power over most or everything in the government and in society. The statements that fit under this type of system are, government controlling production, government regulating a centrally planned economy, government setting the prices and wages and a single party holding complete power.

The statements from the list given which are characteristics of a communist system include:

  • "The government controls the means of production".
  • "The government regulates a centrally planned economy."
  • "Price and wages are set by the government."

Communism or communist system of government can be defined as a system whereby social and economic class is eliminated and thus they call it a classless society following the ideas of Karl Marx.

In a communist society, the community as a whole owns all properties and wealth and everyone contributes to labor and share the benefits.

Learn more about communist system here https://brainly.com/question/17066940?referrer=searchResults

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