ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The type of socialism now carried on by Russia is a form of ____ socialism.
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centrally planned
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market
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utopian
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zero-sum
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Explanation:
Detailed explanation-1: -These models of socialism entailed perfecting or improving the market mechanism and free price system by removing distortions caused by exploitation, private property and alienated labor. This form of market socialism has been termed free-market socialism because it does not involve planners.
Detailed explanation-2: -While no modern-day countries are considered to have a “pure” socialist system, Cuba, China, and North Korea have strong elements of socialist market economies.
Detailed explanation-3: -Utopian socialism. Communism. Marxism. Anarchism.
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