Study Lecture Notes

Menu
  • Computer Science
  • Education
  • Journalism and Mass Communication
  • Management
  • Marketing
  • Political Science
  • Sociology
  • Uncategorized

What are the Important Characteristics of Communism

Characteristics of Communist System

Following are the Characteristics of Communism

Abolition of Private Property

The first feature of the communist economic system is the abolition of the private ownership of means of production. In this system, an individual can own nothing except necessaries of life. No one can run private business.

Collective Ownership of Means of Production

In this system all means of production such as factories, farms, land, trade; construction, mines and means of transport and communication are under state ownership and control.

Central Planning

Utilization of national resources and production and distribution of consumer goods is done through comprehensive planning. In other words, the work of effecting a balance between demand and supply of goods is not left to the Mechanism of Prices. The forces of demand and supply are balanced by central planning.

Elimination of Unfair Gaps in Incomes

Each individual is paid compensation according to his need. This eliminates unfair gaps in incomes. The abolition of revenue, interest and private profit puts the system of distribution of wealth on a just and fair basis.

Provision of Necessaries of Life

In communist system, state is responsible to provide work and compensation according to the capabilities of every individual.

Reddit
Share
Email
Tweet
Prev Article
Next Article

Related Articles

What is Crime – Definition and Historical Background of Crime

What is Crime – Definition and Historical Background of Crime

business.jpg

What is Business, Definition, Nature & Characteristics of Business

Study Lecture Notes

All in One Solution for your Studies
Copyright © 2025 Study Lecture Notes