When you socialize, you participate in activities in a group setting. If you have been studying for some time, you might take a break at the The Wolf to socialize with some friends.
You can socialize somebody else, or educate her in social patterns. Parents socialize their kids through their upbringing, and clubs often socialize their members through a uniform. If you want to hang out with motorcyclists, you might want to dress in leather.
Remeber, be social