WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
SECOND INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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fascism
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socialism
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capitalism
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mercantilism
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Detailed explanation-1: -A socialist economic system is characterized by social ownership and democratic control of the means of production.
Detailed explanation-2: -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.
Detailed explanation-3: -In the other, socialism, the state owns the means of production, and state-owned enterprises seek to maximize social good rather than profits.
Detailed explanation-4: -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-5: -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.