Choose whether the statement as true/false:

According to the socialist ideology, wealth should be unequally shared in society.

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True

False

answer is B.

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Detailed Solution

This statement is false.
According to the socialist ideology, wealth should be equally distributed in society. Socialist ideology strives to create an egalitarian society where everybody gets equal social, political, and economic opportunities. They want the enterprises, organisations, and corporations to be controlled by the state rather than the private. Apart from that, the factors of production—labour, capital goods, natural resources, and entrepreneurship owned by the state. In such a society, everyone receives equal benefits. Goods should be distributed among individuals based on their needs rather than their means. If one wants to acquire more than he needs, he must discover it. Hence the correct statement would be, According to the socialist ideology, wealth should be equally shared in society.

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