Question

Exploitation and inequality are minimal under:(a) Socialism(b) Capitalism(c) Mixed economy(d) None of the above

Answer 1

The correct answer is option (a) Socialism.

In Socialism, the economic and political models involve ownership by the government. All individuals in the society have equal access to resources and hence the exploitation and inequality is minimal.

In Capitalism, there is unfair distribution of power and wealth among members of a society, which results in generation of unequal opportunities for its members.

In mixed economy, socialism and capitalism are the two constituents and the  presence of capitalism results in inequality.