A socialist economy is a system of production where

Q21) A socialist economy is a system of production where goods and services are produced______.

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Correct

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Solution:
The answer is (b) directly for use.
In a socialist economy, the means of production are owned and controlled by the state or the workers, and the goal of production is to satisfy the needs of society, rather than to generate profits for private individuals or corporations.
Goods and services are produced directly for their use value, rather than for their exchange value in a market.
Correct option is (b)

C A foundation Economics Paper4 Part I Questions for practice