Question

Discuss the features of Socialist political system.

Answer 1

Answer:

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.

Explanation:

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Answer 2

Explanation:

⏩ A socialist economy is characterised by public ownership of the means of production and distribution. There is collective ownership whereby all mines, farms, factories, financial institutions, distributing agencies (internal and external trade, shops, stores, etc.), means of transport and communications, etc. ⏪

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