Question

what is socialism?mention its impact on industrial ,worker ,womens and labourers
pls give answer with explaination

Answer 1

Socialism is a range of economic and social systems characterised by social ownershipand workers' self-management of the means of production as well as the political theories and movements associated with them. Social ownership may refer to forms of public, collective or cooperative ownership, or to citizen ownership of equity. There are many varieties of socialism and there is no single definition encapsulating all of them, though social ownership is the common element shared by its various forms.

Answer 2

Socialism is an economic system where every member of the society equally owns the factors of production.

it can lead to great industrial development since every member of the society is given an equal platform to invent and to innovate, leading to great industrial growth.

It gives the worker freedom and powers of self decision making since no one feels inferior or superior than the other.

Women experience gender equality in the job sector because they are not sidelined by the general principle of the system.

Laborers are given an opportunity for maximum output since one can work where is best knowledgeable