1. What do you mean by Socialism?
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Socialism is a political, social and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production, and democratic control, such as workers' self-management of enterprises. ... Social ownership can be public, collective, cooperative, or of equity.
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a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
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