GOVERNMENT

JAMB 2006 - Question 31

Government 2006 JAMB Past Questions - Question 31: One of the greatest advocates of socialism was

Choose the most appropriate option for the gap .
One of the greatest advocates of socialism was
A:
B:
C:
D:
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Correct Answer

B

Explanation

Karl Marx was one of the greatest advocates of socialism. socialism may be defined as a social, economic and political system in which the state owns and controls the means of productionexchange and distribution ofgoods and services. The main aim of Socialism is to ensure equal distributionof the nation's wealth. Countries that practise this economic system (known as theSecond World) include:1. Russia2. Czechoslovakia3 Bulgaria4. China5. Cuba6. Romania7. Albania8. Poland9. The German Democratic Republic. Some Africancourtries that have also practised this system at one time or the otherinclude:1. Tanzania2. Ethiopia3. Angola4. Burkina F^iso5. Guinea 6. Mozambique etc. Socialist economy isbased on the central planning of all' economic activities as opposed to thecapitalist market price mechanism otherwise called capitalism. Karl Marx, aGerman (1818-1883) was the founder and propounder of modern socialism.The collaborator of Karl Marx in developing modernsocicilism was Friedrich Engels (1882-1895). Vladimer Lenin led his Bolshevik faction of the RussianSocial-Democratic Party (now known as the Communist Party of Russia) to carryout the Socialist Revolution.That was in 1917 in the defunct Union of SovietSocialist Republic (USSR).