The fundamental assumption of democratic socialism is that_______________?
Correct answer: C. participation in political decision making should be extended to economic decision making
- A. participation in political decision making should be extended to religious leaders
- B. the Socialist party must be in command of the economy
- C. participation in political decision making should be extended to economic decision making
- D. it is not necessary for everyone in a society to work
Explanation
Democratic socialism extends the democratic principle beyond elections, arguing that people should also participate in decisions about economic production and distribution. This is expressed by extending political participation to economic decision making.
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Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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