Sometimes the best way to learn more about what something is, one must examine something that stands in contrast to it. So, contrast a free market economy (in which individuals freely choose economic activity) with a socialist economy (in which government orders economic activity), and then: notice the striking differences.
"Venezuela was once one of Latin America’s economic powerhouses …A growing number of Venezuelans are going hungry in a food shortage and dying from treatable ailments in squalid, ill-equipped hospitals …Until political prisoners are released, the prospects for a restoration of democratic rule are very dim …Inflation has soared to an estimated 700 percent, while people in this oil-rich nation are left digging through piles of trash for scraps of food."
https://fee.org/articles/venezuelas-socialist-hellscape-captured-in-28-horrifying-headlines/
"Venezuela was once one of Latin America’s economic powerhouses …A growing number of Venezuelans are going hungry in a food shortage and dying from treatable ailments in squalid, ill-equipped hospitals …Until political prisoners are released, the prospects for a restoration of democratic rule are very dim …Inflation has soared to an estimated 700 percent, while people in this oil-rich nation are left digging through piles of trash for scraps of food."
https://fee.org/articles/venezuelas-socialist-hellscape-captured-in-28-horrifying-headlines/