Discuss the differences in allocative efficiency between a capitalist and a socialist economic system as they relate to the price mechanism in each system.

The correct answer to this open question is the following.

Although there are no options attached, we can say the following.

Discuss the differences in allocative efficiency between a capitalist and a socialist economic system as they relate to the price mechanism in each system.

In Capitalism, allocative efficiency can be understood as the correct distribution of all the products, taking into consideration the preference of consumers. The allocative efficiency requires the price to be the same as the marginal cost of production.

On the other hand, in Socialism, it is the state the one that owns the means of production. There is no competence between companies, as is the case of Capitalism. It is the state the one that says what to produce when to produce, the number of products being produced, and the price.

the historians cited in the article all agree with one another about the cause of the civil war. despite coming from different backgrounds and cultures, the historians agree that slavery was the root cause of the civil war. the fact that all these historiansgenerally agree with one another makes their shared viewpoints more reliable and valid, especially because the historians have different backgrounds and all work for the well-respected institutions of howard university, clemson university, and the university of colorado.