This is a definition for (I'm not saying you don't know I just wanna help someone who may not be sure what it is)
"Socialism is an economic system in which industries are owned by workers rather than by private businesses. It is different from capitalism, where private actors, like business owners and shareholders, own the means of production. The state can also act as a capitalist by owning the means of production and by directing the economy. Socialists believe that capitalists owning the means of production is a form of exploitation because it lets them own a majority of the labor that workers produce, even though the owners haven't done any work. By allowing capitalists to own a worker's labor, they can extract surplus value and generate profit. Socialists propose that workers themselves get to own and manage their labor."
Source
https://simple.m.wikipedia.org/wiki/Socialism#:~:text=Socialism%20is%20an%20economic%20system,own%20the%20means%20of%20production.