List three characteristic of socialism

Question

Hailee

Social Studies

1 March, 21:51

List three characteristic of socialism

+1

Answers (1)

Know the Answer?

Murillo · Answer 1

In a socialist economy, the means of production and distribution are owned, controlled and regulated by the public, either through the state or through cooperatives. The basic motive is not to use the means of production for profit, but rather for the interest of social welfare.