USA HISTORY

Detailed explanation-1: -Market Socialism meaning is that ordinary working-class people control the production. The workers should be allowed to take charge of the distribution of the resources. It is on them to sell the excess in the free market system. The Revolutionary socialism definition is that socialism cannot co-exist with capitalism.

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: -socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.

Detailed explanation-4: -Socialism is, broadly speaking, a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. Socialism is based on the idea that common or public ownership of resources and means of production leads to a more equal society.

Detailed explanation-5: -Similarly, the Oxford Dictionary defines socialism as. 1 A political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.