Concept of Socialism economy its feature,merit demerits.

 Economic system plays an important role for the development of nation because it controls all activities of production and its concern activities.

There are many types of economic system present in the world.These are Capitalism,Socialism and mixed.Every economy has some positive feature and some negative feature so every government chooses economy according to their goal and serving people.

Socialism is also an important type of economy that is present many countries and popular in 20th century.

Definition-

The economy in which society owns the factors of production at equal way this type of economy is called Socialism economy.

In other words we can say that the economy in which the means of production is controlled by social proprietorship by society this types of economy is called socialism economy.

Objectives-

There are many  objectives of socialism economy.These objectives are as below-

1.All citizens are equal so they should possess equal opportunities.

2.To divided property among them by equal way.

3.To remove social problems of society like disease,ignorance.

4.To provide privilege by a equal way.

Features-

1.It has a public ownership system.

2.It has a central planning.

3.It has a definite objectives.

4.It has freedom of consumption.

5.It has equality of income distribution.

6.It has proper planning.

7.It has proper pricing process.

Merit-

Prof. Schumpeter said that there are many merits of Socialism.These are as below-

1.Greater economic efficiency.

2.Welfare due to less inequality.

3.Absence of monopolistics practices.

4.Absence of business fluctuations.

Demerits-

1.It has less consumers's sovereignty.

2.It has no freedom of occupations.

3.It has misallocations of resources.

4.It has maximum bureaucratic interference.


Comments

Post a Comment

4096

Popular posts from this blog

Chetain Saykariya Real Hero of 2021.

 There are many players who has been grown in scarcity but scarcity did not stop to get their dream. Chetain Sakariya is one of them. His struggle inspires many thousands players to struggle and get success.  He was born on 28 February 1998 at Vartej Bhavnagar district in Gujrat one of developed state of India. His father's name is Kanjibhai Sakariya who is a tempo driver. His mother is a daily worker of brick manufacturing unit. He has a younger brother whose name is Rahul Sakariya who took suicide some months ago.  He has been playing Saurashtra Cricket team for five years. He played his first class Cricket match on 20 November 2018. He was picked up by Rajasthan Royal's in 1.2 Crores rupees. His performance is very well. He took seven wickets in seven matchs and showed that the decision of Rajasthan Royal's is very good.  There are many problems he faced in his life. His younger brother Rahul Sakariya took suicide some months ago. He is very close to his brother. ...
Read more

Concept of Sale

Sale is an important function of business. It plays an important role in the growth and goal achieving process of organization.  It is the transferred of ownership on behalf of money.  In other words we can say that the process in which the ownership of any products or service transferred from one person to other person, one organization to other organization, one company to other company. This process is called sale.  In the word of law section 54, sale as a transfer of ownership in exchange for a price paid or promise to be paid.  Element of sale: There are two element of sale. 1. Transfer of ownership- it is the first element of sale. Sale is the process of changing ownership. The person who possess ownership of any products or services, they have power, right to use it according to their own way. If any type of problems happens they are responsible, accountable for this mistake and get financial punishment. If sale happens the power, right, duty, responsibility, ...
Read more

What is organisational excellence

 The organization is an important element of the economy. It plays an important role in the development of the common man. There are many global features organizations possess. Organizational excellence is one of them. We know that organization is the place where many people work together according to predefined rules regulations to achieve a certain goal. There are many international norms, standards, and parameters that show the excellence of an organization. The organization that possesses all these norms, standards and parameters such as the type of organization is called the organization excellence. Nature- 1. It is a wide concept. 2. It is a global concept. 3. It is a formal concept. 4. It is a part of total quality management. Advantage-  1. It increases the production of an organization. 2. It helps to perform the function of an organization in an effective, efficient, and economical way. 3. It helps the organization to become a brand at the international level. 4. It ...
Read more