what is socialism . mention its 4 features
Answers
Explanation:
a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
(i) Collective Ownership.
(ii) Economic, Social and Political Equality.
(iii) Economic Planning.
(iv) No Competition.
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. Those means include the machinery, tools, and factories used to produce goods that aim to directly satisfy human needs.
A socialism is a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
the four features of socialism are :
1. Public Ownership ·
2. Central Planning ·
3. Definite Objectives ·
4. Freedom of Consumption.
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