Socialists favor government ownership of natural resources and certain industries. Socialist governments favor state-ownership of certain industries for the purpose of offering public services.

USA CITIZENSHIP TEST

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	True
B	False
C	Either A or B
D	None of the above

Explanation:

Detailed explanation-1: -Socialism is a social and economic doctrine that calls for public rather than private ownership or control of property and natural resources.

Detailed explanation-2: -Socialism is a political philosophy and movement encompassing a range of economic and social systems, which are characterised by social ownership of the means of production, as opposed to private ownership.

Detailed explanation-3: -Socialists were against private property. They saw it as the root of all social evils. ii) Socialists favored society as a whole rather than single individually owned property. More attention would be paid to collective social interests.

Detailed explanation-4: -In the 1840s a new type of economic theory emerged in the literary circles known as “The Communist Manifesto”. Written by Karl Marx with Fredric Engels it propounded a new and unique concept of an economy of a country. This came to be known as a socialist economy.

There is 1 question to complete.