Question

Explain the meaning of socialism in easy words...
i will give u 10 points

Answer 1

Socialism is an economic system where the ways of making money (factories, offices, etc.) are owned by a society as a whole, meaning the value made belongs to everyone in that society, instead of a group of private owners. People who agree with this type of system are called socialists.

Answer 2

Socialism is an economic theory of social organisation that believes that the means of making, moving and the trading wealth should be owned or controlled by the community as a whole.


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