Which of following is not a feature of socialism?

Assessment: WAEC SSCE - Economics - 2014 (Objective) Subject: Economics

Question 1 Report

Which of following is not a feature of socialism?

Answer Details
The feature that is not associated with socialism is "Freedom of enterprise". Socialism advocates for collective ownership of productive resources and production is not driven by the profit motive, but by the goal of maximizing public welfare. Therefore, in a socialist system, the state or community owns and controls the means of production and distribution of goods and services, and there is limited scope for individual entrepreneurship or private ownership of businesses.

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