Which best defines socialism?

Which best defines socialism?

The answer could also be PUBLIC CONTROL OF THE MEANS OF PRODUCTION because when u define socialism it says a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.

Is China a socialist country?

The Communist Party of China maintains that despite the co-existence of private capitalists and entrepreneurs with public and collective enterprise, China is not a capitalist country because the party retains control over the direction of the country, maintaining its course of socialist development.

Is India a communist?

Communism in India has existed as a political movement since at least as early as the 1920s. In its early years, the ideology was harshly suppressed through legal prohibitions and criminal prosecutions. Eventually, the movement became ensconced in national party politics, sprouting several political offshoots.

What did Japan do to China?

Seventy years ago this December 13th, the Japanese Imperial Army began its seizure of Nanjing, the capital of the Republic of China. Japanese troops killed remnant Chinese soldiers in violation of the laws of war, murdered Chinese civilians, raped Chinese women, and destroyed or stole Chinese property on a scale that …

What is socialism and how it works?

Socialism is an economic system where everyone in society equally owns the factors of production. 1 That ownership is acquired through a democratically elected government or through a cooperative or a public corporation in which everyone owns shares.

Which are socialist countries?

Marxist–Leninist states

Country Since Party
People’s Republic of China 1 October 1949 Communist Party of China
Republic of Cuba 1 January 1959 Communist Party of Cuba
Lao People’s Democratic Republic 2 December 1975 Lao People’s Revolutionary Party
Socialist Republic of Vietnam 2 July 1976 Communist Party of Vietnam

What are the advantages of socialism?

In theory, based on public benefits, socialism has the greatest goal of common wealth; Since the government controls almost all of society’s functions, it can make better use of resources, labors and lands; Socialism reduces disparity in wealth, not only in different areas, but also in all societal ranks and classes.

What is a socialist republic government?

A socialist state, socialist republic, or socialist country, sometimes referred to as a workers’ state or workers’ republic, is a sovereign state constitutionally dedicated to the establishment of socialism.

What exactly is socialism?

Socialism is a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production. Social ownership can be public, collective, cooperative, or of equity.