THE VIRGINIA DYNASTY 1801 1825
AMERICAN INDUSTRIALIZATION FACTORY SYSTEM AND MARKET REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a system, usually in the form of the government, that allows people to trade freely
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a system, usually in the form of the government, that owns and controls the means of production
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a system, usually in the form of the government, that has a hands-off approach
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None of the above
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Detailed explanation-1: -The general socialism definition, broadly speaking, socialism is a political and economic system in which the means of production and property have public ownership and are not controlled by the government.
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 is a system in which every person in the community has an equal share of the various elements of production, distribution, and exchange of resources. Such a form of ownership is granted through a democratic system of governance.
Detailed explanation-4: -Socialism is a 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-5: -Socialism is a political, social, and economic philosophy that encompasses a variety of economic and social systems that are distinguished by social ownership of the means of production rather than private ownership. There are two types of socialist systems: non-market and market.