Which system believes that society should organize and control the means of production for the welfare of all?

Which system believes that society should organize and control the means of production for the welfare of all?

• A. Capitalism
• B. Socialism
• C. Communism
• D. Democracy

Answer: (B)

This question is about who should control the resources and factories that produce goods. It describes socialism, the idea that society as a whole should organize and control the means of production to promote the welfare of everyone. In socialism, the goal is to distribute wealth to meet people’s needs and provide basic services, rather than letting private owners pursue profits alone. By contrast, capitalism centers on private ownership and profit, communism aims for a fully classless, stateless system with communal ownership, and democracy is about how people elect their government, not the ownership of the economy. So the best fit is socialism.

This question is about who should control the resources and factories that produce goods. It describes socialism, the idea that society as a whole should organize and control the means of production to promote the welfare of everyone. In socialism, the goal is to distribute wealth to meet people’s needs and provide basic services, rather than letting private owners pursue profits alone. By contrast, capitalism centers on private ownership and profit, communism aims for a fully classless, stateless system with communal ownership, and democracy is about how people elect their government, not the ownership of the economy. So the best fit is socialism.