Volim dobro društvo.

Because Serbian often omits subject pronouns when they are clear from the verb form.

Here, volim already means I love / I like, so ja is not necessary.

• (Ja) volim = I like / I love
• (Ti) voliš = you like
• (On/ona/ono) voli = he/she/it likes

You can say Ja volim dobro društvo, but that usually adds emphasis, like I like good company.

Volim is the 1st person singular present tense form of the verb voleti (to love, to like).

So:

• voleti = infinitive
• volim = I like / I love

In this sentence, it is being used in the sense of liking something in general.

Yes. Društvo is the direct object of volim, so it is in the accusative case.

However, with many neuter nouns, the nominative and accusative singular look the same.

So:

• nominative: društvo
• accusative: društvo

That is why you do not see any change in the noun itself.

Because dobro has to agree with društvo in gender, number, and case.

Društvo is:

• neuter
• singular
• here, accusative (same form as nominative)

So the adjective must also be neuter singular:

• masculine: dobar
• feminine: dobra
• neuter: dobro

That is why dobro društvo is correct.

No. In this sentence, dobro is an adjective, meaning good.

It matches the noun društvo.

Compare:

• dobro društvo = good company
• Govori dobro. = He/She speaks well.

In the second example, dobro is an adverb meaning well.
So the same word form can have different functions depending on the sentence.

Here, društvo means company in the sense of people you are with or pleasant social companionship.

It can also mean other things in different contexts, such as:

• society
• association
• group
• sometimes even company in an organizational sense

But in Volim dobro društvo, it clearly means good company / pleasant company.

Because Serbian does not have articles like English a/an/the.

So dobro društvo can mean:

• good company
• the good company
• some good company

The exact nuance depends on context.

This is very normal in Serbian, and learners have to get used to understanding definiteness from the situation rather than from articles.

Yes. Serbian word order is more flexible than English word order.

The neutral, natural order here is:

• Volim dobro društvo.

But other orders are possible for emphasis, such as:

• Dobro društvo volim.
• Volim društvo.
• Ja volim dobro društvo.

Even when the order changes, the cases help show what each word is doing.
Still, Volim dobro društvo is the most straightforward version.

It can mean like or love, depending on context.

With things, activities, and general preferences, voleti is often translated as like:

• Volim kafu. = I like coffee.
• Volim muziku. = I like music.

With people, it can often mean love:

• Volim te. = I love you.

In Volim dobro društvo, English usually uses I like good company.

Not naturally in the same way.

Voleti is commonly used for general likes and preferences:

• Volim dobro društvo.
• Volim putovanja.
• Volim čaj.

Sviđati se is more like to appeal to someone / to be pleasing to someone:

• Sviđa mi se ova pesma. = I like this song.
• literally: This song is pleasing to me

So for a broad statement like I like good company, volim is the more natural choice.

A rough pronunciation guide for an English speaker would be:

• Volim ≈ VO-leem
• dobro ≈ DO-bro
• društvo ≈ DROOSH-tvo

A few notes:

• š sounds like sh in shoe
• lj in volim is just a normal l here; there is no special lj in this word
• dr at the start of društvo is pronounced together, without a vowel in between
• tv in društvo may feel a little heavy for English speakers, but just say both consonants

It is neutral and works in both formal and informal situations.

It is a simple statement of preference, so it does not sound especially casual or especially formal.

You could say it:

• in conversation
• in writing
• in a profile description
• in a more literary context

It is a very natural Serbian sentence.