Socialism is a political/economic system in which the government controls some of the industries. This means that the government has the power to regulate and manage certain sectors of the economy, such as healthcare, education, and transportation. In a socialist system, the aim is to promote equality and ensure that resources are distributed fairly among the population. The government's role is to oversee the economy and ensure that the needs of the people are met, while still allowing for some private ownership and market competition.