Question

Which of the following statement is true of socialists in the middle of 19th century in Europe?

• A. They were in favour of accumulation of wealth.
• B. They wanted to encourage capitalist enterpreneurship.
• C. They wanted to give employment only to the talented.
• D. They were against private property.

Answer 1

The correct option is D They were against private property.

Socialism means collective ownership of the means of production. It stands for a democratically controlled economy and abolition of private ownership of land and industry. It was against the exploitation of man by man and fought for equal rights of all.