What is socialism in simple terms?

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Tags

1. #owners
2. #offices
3. #meaning
4. #where
5. #owned
6. #people
7. #workers
8. #group
9. #socialism
10. #living
11. #system
12. #factories
13. #depend
14. #making
15. #belongs
16. #value
17. #political
18. #private
19. #instead
20. #economic