Question on: JAMB Government - 2011
In a socialist economy,private accumulation of wealth is
A
prohibited
B
regulated
C
limited
D
encouraged
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Correct Option: A
In a socialist economy,private accumulation of wealth is prohibited.
Socialism is an Economic and political system which advocates that the means of production and distribution as well as management of land and capital, should be owned, controlled and managed by the public.
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