what are the features of socialism? plzzzzzzzzzzz ans my ques.

1. The production activities are planned, organized, and controlled by the government.

2. Unlike a capitalist economy, where self-interest (or profit) is focused, in a socialist economy, social welfare is the focus. The state undertakes the production activities with the sole motive of social welfare and to render services.

3. Besides production, the state also manages and controls the distribution of goods and services among different segments of the population.

4. In a socialist economy, the role of private entrepreneurs is minimal. 

5. A socialist economy solves the central problems through economic or central planning. In other words, the state with the help of central planning tries to solve the three central problems of what to produce, how to produce, and for whom to produce as per the needs and requirements of the society.  

The advantages are - 

1. The central planning distributes the resources equally and in the best way without any self-interest and it is used for social cause only, hence there is no wastage of the resources.
2. People get a proper salary based on the work they do without any discrimination based on gender or class. Full employment is provided.
3. There is rapid economic development
4. There is no trade cycle or exploitation.
5.  There is economic equality and hence maximum care is taken of the society and its welfare.

1. The political power gets accumulated in one place and due to this the state sometimes interferes with the daily working of the people which may be a reason for the discontent among people.
2. People may lack the initiative as there are no rewards for excellent performance by them.
3. People are also not worried to increase their productivity as there is no encouragement from the government.
4. There is no freedom to choose what the people want including the edible food or the job that they have.

Regards,