Socialism Definition In Kid Words

People have had different ideas about how to create a socialist society. In a strictly socialist economy public agencies influence and in some cases actually decide what kinds of goods and services are produced how much they cost the wages or salaries paid to people in different professions and how much wealth a single individual may accumulate. Socialism is a way to organize a society.

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People who agree with this type of system are called socialists.

Socialism definition in kid words. Socialism is a system based on cooperation where everyone works together to provide equally for everyone else. In one country the people may own. Socialism is an economic and political system where the ways of making a living factories offices etc are owned by the workers who run them and the people who depend on them meaning the value made belongs to the people who make it instead of a group of private owners. But socialism differs according to the country.

The goal of socialism is to spread wealth more evenly and to treat all people fairly. It deals mostly with the economy or the part of a society that creates wealth. The term socialism also refers to any political or philosophical doctrine that advocates such a system.

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