Question

need a quick answer please.. what is a simple definition of socalism system " please write with your own words and thank you ​

Answer 1

Answer:

Socialism is a populist economic and political system based on public ownership (also known as collective or common ownership) of the means of production. ... Socialists contend that shared ownership of resources and central planning provide a more equal distribution of goods and services and a more equitable society.

Explanation:

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