Question

what is the definition of socialism

Answer 1

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.

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Answer 2

Answer:

Socialism is an economic system where everyone in society equally owns the factor of production.

Explanation:

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