Socialism is the form of government which shares goods and services equally and the political power is distributed among the people.
Socialism refers to a variety of economic and social systems characterized by social ownership of the means of production and workers' self-management.
Socialist systems are divided into non-market and market forms.
According to the dictionary, socialism is defined as "a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole."