Under socialism, prices and wages are set by

o

the government.

the law of supply and demand

a committee of business leaders,

polítical leaders from all parties.

the government.

Explanation:

Socialism is a regime in which the government controls all indicators and parameters of the economy, such as price, quantity to be produced and wages. This is a type of regime that still works in authoritarian countries like North Korea and Cuba. In socialism there is no room for free enterprise common in capitalist economies.

this means that germany had to pay the allied countries. reparations are/is essentially payment for something that they have done wrong, so after ww1, germany was forced to pay reparations so they could replenish the allied countries resources' that they had lost during the war.