Practicing Success
Practicing Success
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| What do you understand by the term "Socialism"? |
Where all the rights are given to a single person. Where government works for the welfare of country and has the entire control. Where there is no government. Where market forces determines the demand and supply of commodities. |
| Where government works for the welfare of country and has the entire control. |
| "Socialism" is a form of economic system where the 3 questions ( What goods are to be produced, How the goods are to be produced and How these goods are to be distributed ) is answered solely by the government. In this, the distribution of goods is done according to the needs of the people and not their purchasing power. |
