HISTORY
WORLD WAR I AND THE RUSSIAN REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Capitalists
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Socialists
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Either A or B
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None of the above
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Detailed explanation-1: -Views of socialists about private property are : 1) They were against private property. 2) They saw it as the root of all social ills. 3) Individuals who owned the property were concerned about personal gain only.
Detailed explanation-2: -A socialist economy features social rather than private ownership of the means of production. It also typically organizes economic activity through planning rather than market forces, and gears production towards needs satisfaction rather than profit accumulation.
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.