Socialism is an economic, social, and political system based on public rather than private ownership of a country’s means of production. Means of production include the machinery, tools, and factories used to produce the goods needed to satisfy human needs.

socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.

Socialism is a political and economic system in which most forms of economically valuable property and resources are owned or controlled by the public or the state. The term socialism also refers to any political or philosophical doctrine that advocates such a system.

Socialism is a way to organize a society. It deals mostly with the economy, or the part of a society that creates wealth. The goal of socialism is to spread wealth more evenly and to treat all people fairly.

Socialism is, broadly speaking, a political and economic system in which property and the means of production are owned in common, typically controlled by the state or government. Socialism is based on the idea that common or public ownership of resources and means of production leads to a more equal society.