Socialism - Jamb Government Past Questions and Answers

Question 6:

• JAMB 2003

Socialism is a mode of production based on

A. State state ownership of the means of production
B. Collective ownership of the means of production
C. National ownership of the means of productions
D. Mixed ownership of means of production

Question 7:

• JAMB 2007

According to Karl Marx,the mode of production that precedes capitalism is

A. Mercantilism
B. Feudalism
C. Socialism
D. Communalism

Question 8:

• JAMB 2008

An economic system that encourages even distribution of wealth in the society is

A. Liberalism
B. Socialism
C. Mercantilism
D. Capitalism

Question 9:

• JAMB 2011

In a socialist economy,private accumulation of wealth is

A. Prohibited
B. Regulated
C. Limited
D. Encouraged

Question 10:

• JAMB 2013

Which of the following advocates equitable distribution of wealth?

A. Capitalism
B. Aristocracy
C. Socialism
D. Plutocracy