Question

Q-3. Answer the following.
1. Explain the term socialism

secularism​

Answer 1

Answer:

Socialism is a political, social and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production and workers' self-management of enterprises. ... Socialist systems are divided into non-market and market forms.

Answer 2

Answer:

Explanation:

A socialist economy is a system of production where goods and services are produced directly for use, in contrast to a capitalist economic system, where goods and services are produced to generate profit (and therefore indirectly for use). "Production under socialism would be directly and solely for use.