The inputs available to supply goods or services to the economy. eg. land, capital, enterprise and labour.

The study of economics within a small firm or specific market

A concept where individuals shouldn't own land/firms/capital but the whole community should.

A subjective statement that carries value judgements.

An objective statement that can be tested using available evidence.

The process of transferring an enterprise or industry from the public sector to the private sector.

The government largely determines what is produced and in what amount.

The process of transforming an entire economy away from a planned economic system and toward greater market-based organization.

A social science that studies the production, distribution or consumption of goods or services.

Where both market forces and government determine which goods and services are produced and how they are distributed.