Q25. What is socialism? Mention its two features?
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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. It includes the political theories and movements associated with such systems.
The main features of socialist economy are as follows:
(i) Collective Ownership.
(ii) Economic, Social and Political Equality.
(iii) Economic Planning.
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socialism is very good and we can afford it
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