DOTLAN EveMaps

>> Explanation on Socialism:

Socialism refers to an economic system characterised by social ownership of the means of production and co-operative management of the economy."Social ownership" may refer to cooperative enterprises, common ownership, state ownership, or citizen ownership of equity.There are many varieties of socialism and there is no single definition encapsulating all of them.

>> Economic System:

A socialist economic system would consist of a system of production and distribution organized to directly satisfy economic demands and human needs, so that goods and services would be produced directly for use instead of for private profit driven by the accumulation of capital.