Socialism is defined as an economic structure in which:

Question

Quizplus · Accepted Answer

Socialism is characterized by the means of production being owned by the group, whether it be the state or workers' cooperatives. This differs from capitalism, where the means of production are owned privately. Job rotation (A) and equal income for all workers (B) are not necessarily characteristics of socialism, as they vary depending on the specific socialist ideology. Heavy industry and few consumer goods (D) is not a defining characteristic of socialism either, as the production under socialism is typically planned and can encompass a mix of heavy industry and consumer goods.

Socialism Is Defined as an Economic Structure in Which