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Market socialism should be contrasted with a planned economy, or planned socialism.

Market socialism involves the use of markets and prices for determining how to use and allocate factors of production among organizations. These organizations may be state-owned or co-operatively owned; so market socialism can be a type of state socialism.

State socialism is contrasted with co-operative socialism. In state socialism, the means of production are owned and managed by a public body. In contrast, cooperative socialism involves ownership of the means of production by the employees or by councils of consumer co-operatives.

It is possible to have state-market socialism and cooperative-market socialism.

Likewise, it is possible to have cooperative-planned socialism and state-planned socialism.

market socialism is a term used to denote two different economic system based in socialism which operate according tomarket priniciples.

Market Socialism cannot exist, so the question here is meaningless. Socialism means a classless stateless society based on production for use, with no wages or prices or money.

no, socialism isn't better than capitalism because capitalism has a free market and people get rich easily.