7.what is socialism?
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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.
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Socialism = It is social , political and economic philosophy encompassing a range of economic and social system characterised by social ownership of the means of production and worker self management of enterprise.
It includes the political theories and movements associated with such system.
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