Socialism Is Defined as

question 45

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)an economic system in which the people compete freely,within minimal government intervention.

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Definitions:

Distribution System

A network through which a company supplies its products or services to its customers.

Ruling Class

The social class that holds the majority of wealth, power, and influence within a society, often making and enforcing policies and decisions.

Elite Groups

A small, select group of people within society who hold a disproportionate amount of wealth, privilege, political power, or skill.

Terrorism

The use of violence and intimidation, especially against civilians, in the pursuit of political aims.