To understand socialism, you need to learn the difference in economy types. There are free market economies, hybrid economies, and command economies. A free market economy has little to no government presence. A command economy is all or almost all …Nice try. Socialism is not social ownership and self ownership of the means of production.9Andrew WilliamsZach HerrigesFollowSep 2, 2018 · 1 min readNo. Those are all different types of Capitalist ecconomies.