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UI Post-UTME Government 2013 (Model questions) Question 17

Question 17

Political Ideologies

In a socialist economy, private accumulation of wealth is

  1. A.limited
  2. B.encouraged
  3. C.prohibited
  4. D.regulated
Show the answer and explanation

Answer: A (limited)

Explanation

Socialism restricts private accumulation of wealth so that resources are shared more fairly.