Question
Q. Consider the following statements with reference to Socialism:
Which of the above given statements is/are correct?
- It is opposed to the ideal of free market or marketism
- Its main concern is to ensure distributive Justice in society
- Socialist ideals favour complete control of Government over all the sectors.
Which of the above given statements is/are correct?
Answer: Option A
:
A
Explanation:
Statement 1 is incorrect: Socialism refers to a set of political ideas that emerged as a response to the inequalities present in, and reproduced by, the industrial capitalist economy. Although advocates of socialism are not entirely opposed to the market, they favour some kind of government regulation.
Statement 2 is correct: The main concern of Socialism is how to minimise existing inequality and distribute resources justly.
Statement 3 is incorrect: Although advocates of socialism are not entirely opposed to the market, they favour some kind of government regulation, planning and control over certain key areas such as education and health care.
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:
A
Explanation:
Statement 1 is incorrect: Socialism refers to a set of political ideas that emerged as a response to the inequalities present in, and reproduced by, the industrial capitalist economy. Although advocates of socialism are not entirely opposed to the market, they favour some kind of government regulation.
Statement 2 is correct: The main concern of Socialism is how to minimise existing inequality and distribute resources justly.
Statement 3 is incorrect: Although advocates of socialism are not entirely opposed to the market, they favour some kind of government regulation, planning and control over certain key areas such as education and health care.
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