Socialism Is Defined as

question 5

Multiple Choice

Socialism is defined as

• A) an economic system under which all property is communally owned and no social distinctions are made on the basis of people's ability to produce.
• B) an economic system in which the means of production are largely in private hands and the main incentive for economic activity is the accumulation of profits.
• C) an economic system under which the means of production and distribution are collectively owned.
• D) None of these answers is correct.

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Definitions:

Cultural Orientation

The inclination of individuals or groups towards certain beliefs, practices, and priorities shaped by their cultural background.

Baby Boomers

The demographic group born approximately between 1946 and 1964, known for experiencing significant political, economic, and social changes.

Silent Generation

Denotes the demographic cohort born approximately between 1928 and 1945, known for their hardworking values and growing up during significant global events like World War II.

Moral Rights

Rights that individuals possess based on ethical principles or moral norms, often involving issues of fairness, justice, and respect for individuals' autonomy.