What is the definition of “Socialism”?

Socialism is defined as an economic and political theory which covers economic and social systems that advocate that the means of production and distribution should be owned, controlled and regulated by the whole community.

Explanation:

In socialism, it is believed that social ownership can be collective, public or cooperative. Socialist has the believe that all things available in the society is made possible by the collective, collaborative and cooperative efforts of the people/citizens that make up the society.

In the socialist system, there are:

1. Non-market socialism

2. Market socialism

were,have settled (b) mark brainliest : )

michael’s company should invest in the updating of every section as well as data and processes technology and software. through the analysis of the manufacturing process, the company can take a clear approach towards the best way to improve not only the process but also de final result. some of the main problems that manufacturing companies face are the waste of material due to disorganized processes and the lack of real-time process checkings. this can be solved with specific software and machines that can turn paperwork into the digital era and that will reduce the time employees take on that, being this time better apply to control the production process and communication among different sectors of the company, the product will be made in shorter time with better quality and more profit