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.