Mention any 3 features or socialism!
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Main Features of Socialist Economy:
The main features of socialist economy are as follows:
(i) Collective Ownership:
(ii) Economic, Social and Political Equality:
(iii) Economic Planning:
(iv) No Competition:
(v) Positive Role of Government:
(vi) Work and Wages According to Ability and Needs
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Answer:
The three features of socialism may be ...
- Abolitation of exploitation of labour
- production guided by social benefits
- existence of public sector
- decisive role of economic planning
- social ownership of means of production
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