An economic system that encourages even distribution of wealth in the society is
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Correct Answer: Option B
Explanation:
Socialism is the economic system that encourages even distribution of wealth in society. It advocates for public or collective ownership of the means of production and aims to reduce inequality by ensuring that wealth is shared more equitably. Capitalism and liberalism emphasize private ownership and market forces, which can lead to unequal distribution. Mercantilism is an older system focused on trade and national wealth.
Socialism is the economic system that encourages even distribution of wealth in society. It advocates for public or collective ownership of the means of production and aims to reduce inequality by ensuring that wealth is shared more equitably. Capitalism and liberalism emphasize private ownership and market forces, which can lead to unequal distribution. Mercantilism is an older system focused on trade and national wealth.