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what is socialism?? write in detail

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Answered by IshanY69
1

the political idea that is based on the belief that all people are equal and that money and property should be equally divided.

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Answered by ojasvii29
24

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 democratic control or workers' self-management of enterprises. It includes the political theories and movements associated with such systems.

A socialist economy is a system of production where goods and services are produced directly for use, in contrast to a capitalist economic system, where goods and services are produced to generate profit (and therefore indirectly for use). ... The ownership of the means of production varies in different socialist theories.

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