Selina Textbook Solutions: Industrial Revolution and Capitalism and Socialism | History Class 9 ICSE PDF Download

 Page 1


Industrial Revolution and Capitalism and 
Socialism 
EXERCISES 
Question 1. 
What is meant by Industrial Revolution? 
Answer: 
The word ‘Revolution means, something “sudden and quite swift”. Industrial Revolution 
resulted in revolutionary changes in all walks of life. 
Question 2. 
Mention any two causes responsible for Industrialisation in England. 
Answer: 
Reasons for the initiation of Industrialisation in England are: 
1. Enclosure Movement (Availability of Cheap Labour). 
2. Availability of Coal and Iron. 
Question 3. 
What is a Capitalist system? 
Answer: 
A Capitalist system is the economic system in which business and industries were 
owned by private individuals and not by the State. 
Question 4. 
Mention the two main features of Capitalism. 
Ans. 
Under this system the productive wealth remains in private hands. Therefore, the 
owners of wealth have exclusive right to the things that belonged to them.The entire 
economy is governed by the market forces, i.e., the forces of Demand and Supply. The 
word Demand here denotes What consumers are willing to consume. The word Supply 
refers to the quantity in which the producers are able to produce the goods in demand. 
Question 5. 
Mention any two abuses or evils of a Capitalist System. 
Answer: 
The people left their villages to work in the factories situated in areas near the coal-
fields or the iron rocks or seaports, etc. Not much care was taken to provide houses for 
the industrial workers. They, therefore, were forced to live in slums where the living 
conditions were very bad. In 1840 s more than one- tenth of the population of 
Manchester was living in the rooms in the ground underneath. They were forced to live 
under dirty conditions. In fact, each new machine meant that manual labor would be 
Page 2


Industrial Revolution and Capitalism and 
Socialism 
EXERCISES 
Question 1. 
What is meant by Industrial Revolution? 
Answer: 
The word ‘Revolution means, something “sudden and quite swift”. Industrial Revolution 
resulted in revolutionary changes in all walks of life. 
Question 2. 
Mention any two causes responsible for Industrialisation in England. 
Answer: 
Reasons for the initiation of Industrialisation in England are: 
1. Enclosure Movement (Availability of Cheap Labour). 
2. Availability of Coal and Iron. 
Question 3. 
What is a Capitalist system? 
Answer: 
A Capitalist system is the economic system in which business and industries were 
owned by private individuals and not by the State. 
Question 4. 
Mention the two main features of Capitalism. 
Ans. 
Under this system the productive wealth remains in private hands. Therefore, the 
owners of wealth have exclusive right to the things that belonged to them.The entire 
economy is governed by the market forces, i.e., the forces of Demand and Supply. The 
word Demand here denotes What consumers are willing to consume. The word Supply 
refers to the quantity in which the producers are able to produce the goods in demand. 
Question 5. 
Mention any two abuses or evils of a Capitalist System. 
Answer: 
The people left their villages to work in the factories situated in areas near the coal-
fields or the iron rocks or seaports, etc. Not much care was taken to provide houses for 
the industrial workers. They, therefore, were forced to live in slums where the living 
conditions were very bad. In 1840 s more than one- tenth of the population of 
Manchester was living in the rooms in the ground underneath. They were forced to live 
under dirty conditions. In fact, each new machine meant that manual labor would be 
replaced by mechanical devices. It did throw a large number of manual workers on the 
street. Since men lost their work, in some parts of the world there was a massive wave 
of riots. 
Question 6. 
What is meant by Socialism? 
Answer: 
Socialism consists of one demand, namely that the land and other instruments of 
production shall be the common property of the people and shall be used and governed 
by the people, for the people. 
Question 7. 
Name any two of the Early French socialists. 
Answer: 
Babeuf and Saint-Simon. 
Question 8. 
What is the role of Robert Owen in the history of socialist movement? 
Answer: 
Robert Owen has been called “the Father of British Socialism”. He owned a cotton mill 
in Scotland. It was he, who first used the word ‘Socialism’ and maintained that the 
object of Government was to make the people happy. He reduced the working-hours of 
the factory workers, paid the good wages and helped the Trade Union Movement to 
grow. 
Question 9. 
Name that famous work by Marx and Engels (published in 1848) which marked the 
advent of Marxism Socialism or Communism. 
Answer: 
The ‘Communist Manifesto’ was published in 1848. It marked the advent of Marxism or 
‘Scientific Socialism’, as they called it. According to Karl Marx and Engels the interests 
of the capitalists and workers are all the time opposed to each other. They laid stress 
not he doctrine of Class Struggle. The struggle between the capitalists and the working 
classes is a ceaseless affair, until the workers have won and a new social system is 
bom. 
Question 10. 
Name any two prominent leaders of the Socialist Party founded in India in 1934. 
Answer: 
The prominent leaders of the party were Acharya Narendra Dev,’Achyut Patwardhan, 
Jayaprakash Narayan and Dr. Ram Manohar Lohia. 
 
Page 3


Industrial Revolution and Capitalism and 
Socialism 
EXERCISES 
Question 1. 
What is meant by Industrial Revolution? 
Answer: 
The word ‘Revolution means, something “sudden and quite swift”. Industrial Revolution 
resulted in revolutionary changes in all walks of life. 
Question 2. 
Mention any two causes responsible for Industrialisation in England. 
Answer: 
Reasons for the initiation of Industrialisation in England are: 
1. Enclosure Movement (Availability of Cheap Labour). 
2. Availability of Coal and Iron. 
Question 3. 
What is a Capitalist system? 
Answer: 
A Capitalist system is the economic system in which business and industries were 
owned by private individuals and not by the State. 
Question 4. 
Mention the two main features of Capitalism. 
Ans. 
Under this system the productive wealth remains in private hands. Therefore, the 
owners of wealth have exclusive right to the things that belonged to them.The entire 
economy is governed by the market forces, i.e., the forces of Demand and Supply. The 
word Demand here denotes What consumers are willing to consume. The word Supply 
refers to the quantity in which the producers are able to produce the goods in demand. 
Question 5. 
Mention any two abuses or evils of a Capitalist System. 
Answer: 
The people left their villages to work in the factories situated in areas near the coal-
fields or the iron rocks or seaports, etc. Not much care was taken to provide houses for 
the industrial workers. They, therefore, were forced to live in slums where the living 
conditions were very bad. In 1840 s more than one- tenth of the population of 
Manchester was living in the rooms in the ground underneath. They were forced to live 
under dirty conditions. In fact, each new machine meant that manual labor would be 
replaced by mechanical devices. It did throw a large number of manual workers on the 
street. Since men lost their work, in some parts of the world there was a massive wave 
of riots. 
Question 6. 
What is meant by Socialism? 
Answer: 
Socialism consists of one demand, namely that the land and other instruments of 
production shall be the common property of the people and shall be used and governed 
by the people, for the people. 
Question 7. 
Name any two of the Early French socialists. 
Answer: 
Babeuf and Saint-Simon. 
Question 8. 
What is the role of Robert Owen in the history of socialist movement? 
Answer: 
Robert Owen has been called “the Father of British Socialism”. He owned a cotton mill 
in Scotland. It was he, who first used the word ‘Socialism’ and maintained that the 
object of Government was to make the people happy. He reduced the working-hours of 
the factory workers, paid the good wages and helped the Trade Union Movement to 
grow. 
Question 9. 
Name that famous work by Marx and Engels (published in 1848) which marked the 
advent of Marxism Socialism or Communism. 
Answer: 
The ‘Communist Manifesto’ was published in 1848. It marked the advent of Marxism or 
‘Scientific Socialism’, as they called it. According to Karl Marx and Engels the interests 
of the capitalists and workers are all the time opposed to each other. They laid stress 
not he doctrine of Class Struggle. The struggle between the capitalists and the working 
classes is a ceaseless affair, until the workers have won and a new social system is 
bom. 
Question 10. 
Name any two prominent leaders of the Socialist Party founded in India in 1934. 
Answer: 
The prominent leaders of the party were Acharya Narendra Dev,’Achyut Patwardhan, 
Jayaprakash Narayan and Dr. Ram Manohar Lohia. 
 
Question 11. 
Mention the two main features of Socialism. 
Answer: 
Socialism favors ‘collectivism’, i.e., collective good or social welfare is of greater value 
than the good of an individual. Socialism, in addition to Equity, promotes Freedom or 
civil liberties also. Socialists have been great supporters of civil liberties, such as 
freedom of speech, freedom to form associations and freedom of religion, etc.The 
Socialists want to reduce class divisions. In other words, the goal of Socialism is the 
abolition of private ownership over means of production, such as land, mines, factories 
etc. 
Question 12. 
Mention any two differences between Capitalism and Socialism. 
Answer: 
1. The first and the most important distinction between Capitalism and Socialism is 
that “the means of production in a Capitalist economy remain in private hands.” 
(the capitalists or the industrialists). The Socialist thinkers hold that the material 
resources of the country (land, coal, iron, railways, road- transport, and banks 
etc.) should be nationalised, i.e., brought under State-control. 
2. The spirit of capitalism is Market Economy. The economic life is organised 
according to the forces of demand and supply. The capitalists produce even those 
goods which are of no utility for the society. It leads to the wastage of valuable 
resources. The Socialists, on the other hand, placed too much emphasis on a 
planned economy. 
Question 13. 
Mention any two ideals of a Welfare State. 
Answer: 
1. The state should take responsibility for the security and welfare of those who 
could not stand on their own feet. Gradually Britain, Canada, Australia, Sweden, 
Denmark and other European states had become truly Welfare States. 
2. These countries citizens received state assistance during sickness, 
unemployment and old age. Various social security measures have been taken in 
India also, such as the Mahatma Gandhi National Rural Employment Guarantee 
Act (MGNREGA), the National Food Security Act and the Pradhan  Mantri Jan-
Dhan Yojana (PMJDY). 
 
 
 
Page 4


Industrial Revolution and Capitalism and 
Socialism 
EXERCISES 
Question 1. 
What is meant by Industrial Revolution? 
Answer: 
The word ‘Revolution means, something “sudden and quite swift”. Industrial Revolution 
resulted in revolutionary changes in all walks of life. 
Question 2. 
Mention any two causes responsible for Industrialisation in England. 
Answer: 
Reasons for the initiation of Industrialisation in England are: 
1. Enclosure Movement (Availability of Cheap Labour). 
2. Availability of Coal and Iron. 
Question 3. 
What is a Capitalist system? 
Answer: 
A Capitalist system is the economic system in which business and industries were 
owned by private individuals and not by the State. 
Question 4. 
Mention the two main features of Capitalism. 
Ans. 
Under this system the productive wealth remains in private hands. Therefore, the 
owners of wealth have exclusive right to the things that belonged to them.The entire 
economy is governed by the market forces, i.e., the forces of Demand and Supply. The 
word Demand here denotes What consumers are willing to consume. The word Supply 
refers to the quantity in which the producers are able to produce the goods in demand. 
Question 5. 
Mention any two abuses or evils of a Capitalist System. 
Answer: 
The people left their villages to work in the factories situated in areas near the coal-
fields or the iron rocks or seaports, etc. Not much care was taken to provide houses for 
the industrial workers. They, therefore, were forced to live in slums where the living 
conditions were very bad. In 1840 s more than one- tenth of the population of 
Manchester was living in the rooms in the ground underneath. They were forced to live 
under dirty conditions. In fact, each new machine meant that manual labor would be 
replaced by mechanical devices. It did throw a large number of manual workers on the 
street. Since men lost their work, in some parts of the world there was a massive wave 
of riots. 
Question 6. 
What is meant by Socialism? 
Answer: 
Socialism consists of one demand, namely that the land and other instruments of 
production shall be the common property of the people and shall be used and governed 
by the people, for the people. 
Question 7. 
Name any two of the Early French socialists. 
Answer: 
Babeuf and Saint-Simon. 
Question 8. 
What is the role of Robert Owen in the history of socialist movement? 
Answer: 
Robert Owen has been called “the Father of British Socialism”. He owned a cotton mill 
in Scotland. It was he, who first used the word ‘Socialism’ and maintained that the 
object of Government was to make the people happy. He reduced the working-hours of 
the factory workers, paid the good wages and helped the Trade Union Movement to 
grow. 
Question 9. 
Name that famous work by Marx and Engels (published in 1848) which marked the 
advent of Marxism Socialism or Communism. 
Answer: 
The ‘Communist Manifesto’ was published in 1848. It marked the advent of Marxism or 
‘Scientific Socialism’, as they called it. According to Karl Marx and Engels the interests 
of the capitalists and workers are all the time opposed to each other. They laid stress 
not he doctrine of Class Struggle. The struggle between the capitalists and the working 
classes is a ceaseless affair, until the workers have won and a new social system is 
bom. 
Question 10. 
Name any two prominent leaders of the Socialist Party founded in India in 1934. 
Answer: 
The prominent leaders of the party were Acharya Narendra Dev,’Achyut Patwardhan, 
Jayaprakash Narayan and Dr. Ram Manohar Lohia. 
 
Question 11. 
Mention the two main features of Socialism. 
Answer: 
Socialism favors ‘collectivism’, i.e., collective good or social welfare is of greater value 
than the good of an individual. Socialism, in addition to Equity, promotes Freedom or 
civil liberties also. Socialists have been great supporters of civil liberties, such as 
freedom of speech, freedom to form associations and freedom of religion, etc.The 
Socialists want to reduce class divisions. In other words, the goal of Socialism is the 
abolition of private ownership over means of production, such as land, mines, factories 
etc. 
Question 12. 
Mention any two differences between Capitalism and Socialism. 
Answer: 
1. The first and the most important distinction between Capitalism and Socialism is 
that “the means of production in a Capitalist economy remain in private hands.” 
(the capitalists or the industrialists). The Socialist thinkers hold that the material 
resources of the country (land, coal, iron, railways, road- transport, and banks 
etc.) should be nationalised, i.e., brought under State-control. 
2. The spirit of capitalism is Market Economy. The economic life is organised 
according to the forces of demand and supply. The capitalists produce even those 
goods which are of no utility for the society. It leads to the wastage of valuable 
resources. The Socialists, on the other hand, placed too much emphasis on a 
planned economy. 
Question 13. 
Mention any two ideals of a Welfare State. 
Answer: 
1. The state should take responsibility for the security and welfare of those who 
could not stand on their own feet. Gradually Britain, Canada, Australia, Sweden, 
Denmark and other European states had become truly Welfare States. 
2. These countries citizens received state assistance during sickness, 
unemployment and old age. Various social security measures have been taken in 
India also, such as the Mahatma Gandhi National Rural Employment Guarantee 
Act (MGNREGA), the National Food Security Act and the Pradhan  Mantri Jan-
Dhan Yojana (PMJDY). 
 
 
 
STRUCTURED QUESTIONS 
Question 1. 
Industrial Revolution in England may be attributed to many factors. What was the role of 
the following factors: 
(a) Availability of Coal and Iron. 
(b) Improved Transportation. 
(c) A vast Overseas Market 
Answer: 
The role of the given factors in stimulating industrial expansion in England in the 
18th Century are described as under:  
1. Availability of Coal and Iron: Coal and Iron was immensely available in England. 
In the north of England, lay both the coalfields and the deposits of iron. Most 
factories sprang up in northern regions, which became the most populous part of 
the country. 
2. Improved Transportation: In the 18th century, James Watt developed an engine 
in which the steam was employed to drive the piston backwards and forwards and 
the piston could be used to turn the wheels. Then came the invention of the 
railways. Goods and people could now be carried far faster than by previous 
modes of transport. 
3. A vast Overseas Market: Overseas trade, brought into plenty of money to 
England. After the Battle of Plassev (1757), the East India Company compelled 
our people to sell their goods below the market-rate and purchase the 
commodities they had brought at very high prices. As England had acquired 
Canada also, her trade developed considerably. She had now, a big market for 
her products. 
Question 2. 
Industrial Revolution and the Capitalist mode of production might have been helpful in 
some ways, it also caused problems in other ways. Discuss its disadvantages under the 
following heads: 
(a) A System of Mass Exploitation 
(b) Unemployment 
(c) Increase in Slums 
Answer: 
(a) A System of Mass Exploitation: 
The Capitalist System, created two new classes: the Capitalist Class and the Class 
of Wage-earners. The capitalists were anxious to make as large profits as possible and 
in order to do that they exploited the working class. Workers share in the profits of 
industry was very small. It is terrible to think that even women and little children had to 
work for as many as fifteen hours a day, with very short interval for food. Factory 
owners and managers paid the minimum amount necessary for a workforce, often 
recruiting women and children to tend the machines because they could be hired for 
very low wages. 
(b) Unemployment: 
Page 5


Industrial Revolution and Capitalism and 
Socialism 
EXERCISES 
Question 1. 
What is meant by Industrial Revolution? 
Answer: 
The word ‘Revolution means, something “sudden and quite swift”. Industrial Revolution 
resulted in revolutionary changes in all walks of life. 
Question 2. 
Mention any two causes responsible for Industrialisation in England. 
Answer: 
Reasons for the initiation of Industrialisation in England are: 
1. Enclosure Movement (Availability of Cheap Labour). 
2. Availability of Coal and Iron. 
Question 3. 
What is a Capitalist system? 
Answer: 
A Capitalist system is the economic system in which business and industries were 
owned by private individuals and not by the State. 
Question 4. 
Mention the two main features of Capitalism. 
Ans. 
Under this system the productive wealth remains in private hands. Therefore, the 
owners of wealth have exclusive right to the things that belonged to them.The entire 
economy is governed by the market forces, i.e., the forces of Demand and Supply. The 
word Demand here denotes What consumers are willing to consume. The word Supply 
refers to the quantity in which the producers are able to produce the goods in demand. 
Question 5. 
Mention any two abuses or evils of a Capitalist System. 
Answer: 
The people left their villages to work in the factories situated in areas near the coal-
fields or the iron rocks or seaports, etc. Not much care was taken to provide houses for 
the industrial workers. They, therefore, were forced to live in slums where the living 
conditions were very bad. In 1840 s more than one- tenth of the population of 
Manchester was living in the rooms in the ground underneath. They were forced to live 
under dirty conditions. In fact, each new machine meant that manual labor would be 
replaced by mechanical devices. It did throw a large number of manual workers on the 
street. Since men lost their work, in some parts of the world there was a massive wave 
of riots. 
Question 6. 
What is meant by Socialism? 
Answer: 
Socialism consists of one demand, namely that the land and other instruments of 
production shall be the common property of the people and shall be used and governed 
by the people, for the people. 
Question 7. 
Name any two of the Early French socialists. 
Answer: 
Babeuf and Saint-Simon. 
Question 8. 
What is the role of Robert Owen in the history of socialist movement? 
Answer: 
Robert Owen has been called “the Father of British Socialism”. He owned a cotton mill 
in Scotland. It was he, who first used the word ‘Socialism’ and maintained that the 
object of Government was to make the people happy. He reduced the working-hours of 
the factory workers, paid the good wages and helped the Trade Union Movement to 
grow. 
Question 9. 
Name that famous work by Marx and Engels (published in 1848) which marked the 
advent of Marxism Socialism or Communism. 
Answer: 
The ‘Communist Manifesto’ was published in 1848. It marked the advent of Marxism or 
‘Scientific Socialism’, as they called it. According to Karl Marx and Engels the interests 
of the capitalists and workers are all the time opposed to each other. They laid stress 
not he doctrine of Class Struggle. The struggle between the capitalists and the working 
classes is a ceaseless affair, until the workers have won and a new social system is 
bom. 
Question 10. 
Name any two prominent leaders of the Socialist Party founded in India in 1934. 
Answer: 
The prominent leaders of the party were Acharya Narendra Dev,’Achyut Patwardhan, 
Jayaprakash Narayan and Dr. Ram Manohar Lohia. 
 
Question 11. 
Mention the two main features of Socialism. 
Answer: 
Socialism favors ‘collectivism’, i.e., collective good or social welfare is of greater value 
than the good of an individual. Socialism, in addition to Equity, promotes Freedom or 
civil liberties also. Socialists have been great supporters of civil liberties, such as 
freedom of speech, freedom to form associations and freedom of religion, etc.The 
Socialists want to reduce class divisions. In other words, the goal of Socialism is the 
abolition of private ownership over means of production, such as land, mines, factories 
etc. 
Question 12. 
Mention any two differences between Capitalism and Socialism. 
Answer: 
1. The first and the most important distinction between Capitalism and Socialism is 
that “the means of production in a Capitalist economy remain in private hands.” 
(the capitalists or the industrialists). The Socialist thinkers hold that the material 
resources of the country (land, coal, iron, railways, road- transport, and banks 
etc.) should be nationalised, i.e., brought under State-control. 
2. The spirit of capitalism is Market Economy. The economic life is organised 
according to the forces of demand and supply. The capitalists produce even those 
goods which are of no utility for the society. It leads to the wastage of valuable 
resources. The Socialists, on the other hand, placed too much emphasis on a 
planned economy. 
Question 13. 
Mention any two ideals of a Welfare State. 
Answer: 
1. The state should take responsibility for the security and welfare of those who 
could not stand on their own feet. Gradually Britain, Canada, Australia, Sweden, 
Denmark and other European states had become truly Welfare States. 
2. These countries citizens received state assistance during sickness, 
unemployment and old age. Various social security measures have been taken in 
India also, such as the Mahatma Gandhi National Rural Employment Guarantee 
Act (MGNREGA), the National Food Security Act and the Pradhan  Mantri Jan-
Dhan Yojana (PMJDY). 
 
 
 
STRUCTURED QUESTIONS 
Question 1. 
Industrial Revolution in England may be attributed to many factors. What was the role of 
the following factors: 
(a) Availability of Coal and Iron. 
(b) Improved Transportation. 
(c) A vast Overseas Market 
Answer: 
The role of the given factors in stimulating industrial expansion in England in the 
18th Century are described as under:  
1. Availability of Coal and Iron: Coal and Iron was immensely available in England. 
In the north of England, lay both the coalfields and the deposits of iron. Most 
factories sprang up in northern regions, which became the most populous part of 
the country. 
2. Improved Transportation: In the 18th century, James Watt developed an engine 
in which the steam was employed to drive the piston backwards and forwards and 
the piston could be used to turn the wheels. Then came the invention of the 
railways. Goods and people could now be carried far faster than by previous 
modes of transport. 
3. A vast Overseas Market: Overseas trade, brought into plenty of money to 
England. After the Battle of Plassev (1757), the East India Company compelled 
our people to sell their goods below the market-rate and purchase the 
commodities they had brought at very high prices. As England had acquired 
Canada also, her trade developed considerably. She had now, a big market for 
her products. 
Question 2. 
Industrial Revolution and the Capitalist mode of production might have been helpful in 
some ways, it also caused problems in other ways. Discuss its disadvantages under the 
following heads: 
(a) A System of Mass Exploitation 
(b) Unemployment 
(c) Increase in Slums 
Answer: 
(a) A System of Mass Exploitation: 
The Capitalist System, created two new classes: the Capitalist Class and the Class 
of Wage-earners. The capitalists were anxious to make as large profits as possible and 
in order to do that they exploited the working class. Workers share in the profits of 
industry was very small. It is terrible to think that even women and little children had to 
work for as many as fifteen hours a day, with very short interval for food. Factory 
owners and managers paid the minimum amount necessary for a workforce, often 
recruiting women and children to tend the machines because they could be hired for 
very low wages. 
(b) Unemployment: 
Introduction of new machines, threw a large number of manual workers on the street. 
Since men lost their work, in some parts of the world, there was a massive wave of 
riots. 
(c) Increase in Slums: 
The introduction of machinery took the work out of the homes into newly built factories. 
Since, most of the population lived in villages, the people life the countryside to work in 
the factories. The domestic system of production came to an end, with considerable 
loss to rural England or the rural France, as the case may be. Poverty in rural areas 
increased. Exodus to the cities led to an increase in Slums. Usually, the factories were 
situated in areas near the coal-fields or sea-ports. Not much care was taken to provide 
houses for the industrial workers. They, therefore, were forced to live in slums. In 
1840s, more than 1/10th of the population of Manchester was living in the rooms in the 
ground underneath. The workers needed recreation and sometimes fell prey to harmful 
practices, such as drinks or gambling. 
Question 3. 
Socialism emerged as a reaction to Capitalism. In this context answer the following 
questions: 
(a) What were the main Ideas of Marx and Engels ? 
(b) What were the key areas of disagreement between Marxian Socialists and 
Democratic Socialists ? 
Answer: 
(a) 
Karl Marx went to Paris where he met Engels. Karl Marx and Engels drew the 
Communist Manifesto in 1848. According to Karl Marx and Engels, the interests of the 
capitalists and workers are all the time opposed to each other. They laid stress on the 
doctrine of Class Struggle. 
(b) 
Democratic Socialists  such as Bernstein Jean Juares Bernard Shaw and Sidney Webb 
were not in agreement with the principle of Class Struggle advocated by Marx. They 
believed that socialist objectives should be achieved through democratic means. 
Question 4. 
Socialists prefer .Co-operation to Competition and favor Collectivism over Individualism. 
Mention the three key features of Socialism. 
Answer: 
Socialists believe that democratic means should be employed for achieving their 
objectives, i.e., The Goal of Socialism. They rejected the revolutionary overthrow of the 
existing political and economic system. Almost all nations of the world (with the possible 
exception of America) have had strong socialist parties. After attaining success in 
elections, the Socialists adopt policies which would strengthen socialism. In Britain the 
labor party for the first time gained an absolute majority in the House of Commons in 
1945. The Labor Government, then, nationalised a number of industries and adopted 
such programmes as public housing and National Insurance to pay money to people 
who were ill, unemployed, or had retired.