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JAMB Government 1998 Question 7

Question 7

Political Ideologies

A major characteristic of the socialist system is its provision for

  1. A.limited privacy
  2. B.public ownership
  3. C.unlimited privacy
  4. D.private ownership
Show the answer and explanation

Answer: B (public ownership)

Explanation

Socialism places the major means of production under public (state or collective) ownership so that wealth is shared more fairly.