Question

What role does the government play in socialism

Answer 1

Answer:

Role of the government play in socialism is discussed below.

Explanation:

• Socialism is an economic and political arrangement. It is a financial system of social structure.
• It assumes that the means of producing, transferring, and exchanging money should be maintained or regulated by the operators.
• Under a socialist economy, the administration presents a broad function in nearly all commercial exercises, such as creation, delivery, and consumption, of a country.

Answer 2

Socialism means production to satisfy human needs, not as under capitalism, for sale and profit. Socialism means direct control and management of the industries and social services by the workers through a democratic government based on their nationwide economic organization.