What is meant by socialist
Answers
a person who advocates or practises socialism.
hope this answer will help you
Answer:
follow for more updates
Explanation:
Socialist systems are divided into non-market and market forms. Non-market socialism involves replacing factor markets and money with engineering and technical criteria based on calculation performed in-kind, thereby producing an economic mechanism that functions according to different economic lawsfrom those of capitalism. Non-market socialism aims to circumvent the inefficiencies and crisestraditionally associated with capital accumulationand the profit system. By contrast, market socialism retains the use of monetary prices, factor markets and in some cases the profit motive, with respect to the operation of socially owned enterprises and the allocation of capital goods between them. Profits generated by these firms would be controlled directly by the workforce of each firm, or accrue to society at large in the form of a social dividend.The socialist calculation debate concerns the feasibility and methods of resource allocation for a socialist system.