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Communism. Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided.The most important originators of communist doctrine were Karl Marx and Frederick Engels.ommunism. Communism, also known as a command system, is an economic system where the government owns most of the factors of production and decides the allocation of resources and what products and services will be provided.
Though the term communism can refer to specific political parties, at its core, communism is an ideology of economic equality through the elimination of private property. The beliefs of communism, most famously expressed by Karl Marx, center on the idea that inequality and suffering result from capitalism.