Question

'From each according to his capacity and to each according to his work' is the principle of ___________, in a socialist economy.

• A. distribution of utilities
• B. distribution of income
• C. employment segregation
• D. wealth distribution

Answer 1

Answer: (B)

distribution of income

In a socialist economy, the central problems of the economy is solved by a centrally based planning authority that resolves all the centrally based problems related to production of goods and services in the economy which includes the problem of 'For whom to produce?' is decided by allocating resources for the production keeping in mind the purchasing power of the nation according to their capacity and income earned and spent by them.