Types of socialism

Socialism is an economic system in which the government owns and controls the things people need, like food, transportation, energy, and healthcare. This way, the government can make sure everyone has enough of what they need. There are different kinds of socialism.

One kind is called communism, where the government controls all of the businesses and people work and live together.

Another kind is called democratic socialism, where the government still owns the businesses, but people still have freedom, like the right to vote and the right to have their own opinion.

A third kind is called market socialism, where the government owns some things, but people can still have their own businesses.

Lastly, there's also participatory socialism, where people help make decisions about how the businesses are run. This way, everyone can have a say in how the economy works.