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In which system do communities own all property?

  1. Capitalism

  2. Socialism

  3. Communism

  4. Liberalism

The correct answer is: Communism

Communism is a system in which the community collectively owns all property, and individual ownership is largely eliminated. This ideological framework is based on the idea that resources and means of production should be shared equally among the populace to ensure that everyone has their needs met, thus removing class distinctions and economic inequality. In contrast to communism, capitalism emphasizes private ownership of property and means of production, where individuals or corporations own resources and seek profit. Socialism, while it includes elements of community ownership, often allows for some level of private property and market mechanisms, focusing on the redistribution of wealth rather than the complete abolition of private ownership. Liberalism champions individual freedom and rights, prioritizing personal property and market-driven economies. Understanding these distinctions clarifies why communism is the correct answer, as it uniquely encapsulates the concept of all property being owned by the community as a whole.