Question

2. What is socialism?​

Answer 1

Answer:

2. 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.

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Answer 2

Answer:

Socialism is an economic and political system. It is an economic theory of social organization. It states that the means of making, moving, and trading wealth should be owned or controlled by the workers.In socialism, the workers make and distribute the goods, so the money belongs to them rather than private owners. For example, a bakery pays all the staff the same amount of money based on the profitability of the business. Workers vote to make business decisions.

Explanation:

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