What is socialism? Describe any two features of socialism
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Socialism is a system in which the state tries to ensure an equitable distribution of wealth.
Two main features of socialism are:----
●Collective Ownership:-
It is also known as public ownership.Here all means are owned and by the state/government.
●Classless society:-
Our society is divided into three forms:-
◆Upper class
◆Middle class
◆Lower class
It is distinguished because of the economical structure of the society which defines a person's category in these three classes from his financial status. But a true socialist society tries to ensure that the economic status of everyone is equal.
Socialism is a system in which the state tries to ensure an equitable distribution of wealth.
Two main features of socialism are:----
●Collective Ownership:-
It is also known as public ownership.Here all means are owned and by the state/government.
●Classless society:-
Our society is divided into three forms:-
◆Upper class
◆Middle class
◆Lower class
It is distinguished because of the economical structure of the society which defines a person's category in these three classes from his financial status. But a true socialist society tries to ensure that the economic status of everyone is equal.
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