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प्रश्न
With reference to Capitalism and Socialism, state the following:
What according to you is better of the two economic systems? Give reasons to support your answer.
उत्तर
Capitalism: Capitalism refers to the economic system in which the means of production like labour, raw material, tools, and machines are owned by private individuals or groups of them for profit.
Capitalism believes in the free market and is opposed to government intervention in economics because it believes that government intervention introduces inefficiencies.
The evil effects of Capitalism and the spirit of improving the condition of workers gave birth to socialism. The ultimate goal of socialism is to eliminate class struggle between the capitalists and the workers and form a classless society. In order to achieve these objectives, government control over the production and distribution of important things is considered necessary. As such socialism is based on three principles. First, it is opposed to private capitalism. Secondly, socialism is the voice of all workers and the working class. Thirdly, socialism demands a just distribution of wealth. Socialists maintain that all factors of production should belong to the entire human race or society.
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संबंधित प्रश्न
What is meant by the Industrial Revolution?
Name any two prominent leaders of the Socialist Party founded in India in 1934.
Mention any two differences between Capitalism and Socialism.
Industrial Revolution in England may be attributed to many factors. What was the role of the following factor:
Improved Transportation.
Industrial Revolution and the Capitalist mode of production might have been helpful in some ways, it also caused problems in other ways. Discuss its disadvantages under the following head:
Urbanisation and Increase in Slums
Socialism emerged as a reaction to Capitalism. In this context answer the following question:
What were the main Ideas of Marx and Engels?
Socialism emerged as a reaction to Capitalism. In this context answer the following question:
What were the key areas of disagreement between Marxian Socialists and Democratic Socialists?
Describe the differences or dissimilarities between Capitalism and Socialism under the following heading:
Private Ownership versus State Ownership
What was the cause of Socialism?
With reference to the rise of Capitalism, answer the following question:
What was the cause of the rise of Capitalism?
