A major premise of a socialist system is:
A) to make sure that those that create wealth are allowed to keep that wealth.
B) to reduce the inequality in the distribution of wealth.
C) to create incentives to encourage entrepreneurs to create jobs and economic growth.
D) to keep tax rates extremely low so that businesses do not need to support government projects.

Question

Quizplus · Accepted Answer

A major premise of a socialist system is to reduce the inequality in the distribution of wealth. This involves a redistribution of wealth and resources to ensure that everyone's basic needs are met and that there is a more equal distribution of wealth among the population. This stands in contrast to a capitalist system which emphasizes individual property rights and the accumulation of wealth by individuals or corporations.

A Major Premise of a Socialist System Is