SocializationIt is the process by which an individual gradually acquires culture ad becomes a member of a social group. Example → Internship training programme of doctors gives them an opportunity to learn how to become acceptable to the public at large as doctors.SocialismIt is a system of production and distribution based on social ownership for raising the living standard of working class. In other words, socialism is a system of social organization that advocates the vesting of the ownership and control of means of production and distribution, of capital, land, etc. in the community as whole. In contrast to socialism, Capitalism is an economic and social system in which most trade and industry are privately controlled for profit rather than by the state. The means of production (i.e., capital) are owned, operated and traded for the purpose of generating profits by private individuals, either singly or jointly.CultureCulture is defined as "learned behavior which has been socially acquired".