Question

Explain the six features of socialism

Answer 1

Answer:

Features of Socialism:

(1) Public Ownership: ...

(2) Central Planning: ...

(3) Definite Objectives: ...

(4) Freedom of Consumption: ...

(5) Equality of Income Distribution: ...

(6) Planning and the Pricing Process: ...

(1) Greater Economic Efficiency: ...

(2) Greater Welfare due to Less Inequality of Income: