Question

Which of the following is not the feature of socialist economy?

• A. Economic planning
• B. Social welfare
• C. Private ownership of productive resources
• D. Economic equalities

Answer 1

The correct option is C Private ownership of productive resources

Private ownership of productive resources is not the feature of socialist economy. The resources are owned and operated or distributed by the government. This is done to ensure social welfare and gain the objective of economic equality. This is done with the help of proper economic planning of the government.