Capitalism:
an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
Free-market:
an economic system in which prices are determined by unrestricted competition between privately owned businesses.
Public Sector:
the part of an economy that is controlled by the state.
Private Sector:
the part of the national economy that is not under direct state control.
Socialism:
a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
Communism:
a theory or system of social organization in which all property is owned by the community and each person contributes and receives according to their ability and needs.
State:
a nation or territory considered as an organized political community under one government.
Libertarianism:
a political philosophy that advocates only minimal state intervention in the free market and the private lives of citizens.