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Question
Which is a class of ideologies that favour an economic system in which most productive resources are the property of the government?
Which is a class of ideologies that favour an economic system in which most productive resources are the property of the government?
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Solution
The correct option is B Socialism
In Marxist theory, Socialism is a populist economic and political system based on the public ownership. Socialism is an economic system where everyone in the society equally own the factors of production. The ownership is acquired through a democratic elected government. It is a class of ideologies that favour an economic system in which most productive resources are the property of the government.
In Marxist theory, Socialism is a populist economic and political system based on the public ownership. Socialism is an economic system where everyone in the society equally own the factors of production. The ownership is acquired through a democratic elected government. It is a class of ideologies that favour an economic system in which most productive resources are the property of the government.
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