Government Questions and Answers

Socialism is a political and economic system in which most forms of economically valuable property and resources are owned or controlled by the public or the state. The term socialism also refers to any political or philosophical doctrine that advocates such a system.

Fascism is a form of radical, right-wing, authoritarian ultranationalism, characterized by dictatorial power, forcible suppression of opposition, and strong regimentation of society and of the economy. It is characterized by extreme militant nationalism, hatred of communism and socialism, contempt for democracy, and belief in natural social hierarchy and the rule of elites

An open  market economy, also known as a free enterprise system or capitalism, is an economic system wherein goods and services are exchanged freely on an open market.

As with slaves, serfs could be bought, sold, or traded, abused with no rights over their own bodies, and could not leave the land they were bound to. Serfs who occupied a plot of land were required to work for the lord of the manor who owned that land. In return they were entitled to protection, justice etc

Serfs is a  member of the lowest feudal class, legally bound to a landed estate and required to perform labor for the lord of that estate in exchange for a personal allotment of land.

Communism is advocacy of a classless society in which private ownership has been abolished and the means of production and subsistence belong to the community