Q. Which of the following is the most appropriate description of the term “Fabian Socialism”?
Exp) Option a is the correct answer.
Socialism is a system in which every person in the community has an equal share of the various elements of production, distribution, and exchange of resources. Such a form of ownership is granted through a democratic system of governance.
Option a is correct: Fabian socialism is a form of socialism that advances the principles of democratic framework to achieve gradual conversion to socialism by peaceful means rather than by revolutionary overthrow.
| Important Tips • Marxism advocates the advancement of socialism through revolutionary overthrow. • Green socialism is a type of socialistic ideology that is very protective of natural resources. • Market socialism refers to various economic systems that involve either public ownership or worker cooperative ownership over the means of production, or a combination of both.
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