Which of the following choices is associated with socialism? Karl Mars
free market
private ownership of property
Adam Smith

Karl Mars

Explanation:

Socialism can be defined as an economic, social and political theory which asserts that the method of exchange, distribution, as well as the means of production of goods and services and ownership of properties should be controlled or regulated by the public (government) rather than the private sector. Thus, everyone living in the society has an equal share of the means of production used in producing the goods and services.

Under socialism, key industries are owned or controlled by the government. Some examples of socialist countries are Vietnam, Cuba, China, etc.

Karl Marx was a German sociologist, economist, philosopher, historian, author and political theorist. Marx was born on the 5th of May, 1818 in Trier, Germany and is famously known for his works on communism, socialism, and capitalism.

Karl Mars is the option which is associated with socialism because he believed all of human history was a struggle between rich and poor.

match each type of restriction with one of its effects.

a. land-use laws

b. labor laws

c. banking regulations

a. controlled development of towns and cities

b. protection of young workers

c. greater financial stability

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