I would, if I may, ask a question of you that I should probably research on my own, but as you have a firm understanding, and I prefer to learn from interaction, I think this is the best course.
A definition for economics that we most often use comes from Lionel Robbins--"Economics is the study of the use of scarce resources which have alternative uses." Keeping this in mind, and that "scarce" means that what everybody wants adds up to more than there is (as Thomas Sowell put it), how does Socialism solve the problem of scarcity?
[This comment was removed]
Hey, thanks for being honest. Looks like I've got some research to do.
To help you out a little, think of economics as the answer to the question "how much of each resource should be allocated to each of its many uses?" Doing so in the most efficient manner is what economics is all about. Different types of economic systems are basically different ways of making decisions about the allocation of scarce resources, and each of these decisions has an impact on the whole society. Again, I'm paraphrasing Thomas Sowell since he's much smarter than I am.