Each of the Following Is a Characteristic of Socialism,except

question 31

Multiple Choice

Each of the following is a characteristic of socialism,except

• A)prohibition of any private ownership of the means of production.
• B)a substantial degree of government planning.
• C)a large-scale redistribution of income.
• D)government ownership of some of the means of production.

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Definitions:

Subsidization

The provision of financial assistance by a government or other entity to support or promote a specific industry, commodity, or activity.

Commodification

The process of treating goods, services, ideas, or people as commodities, thus making them subject to trade in a market.

Nationalization

The process by which a government takes control of a previously private sector business or industry.

Political Freedom

The degree to which individuals are able to participate in the political life of their society without repression.