In a free market economy, individuals and businesses are free to own and operate businesses and property without government interference.

Keynesian economics focuses on using government spending and monetary policy to stimulate economic growth and stabilize the economy during economic downturns.

Public finance includes various sources of government revenue, such as personal income tax, corporate income tax, sales tax, and other forms of taxation.

The primary function of a central bank is to regulate the money supply and control inflation to ensure economic stability.

A mixed economy combines elements of both free market and command economies, with government involvement in certain industries while allowing private ownership in others.

Diminishing marginal utility is an economic principle that states that as a consumer consumes more of a good or service, the additional satisfaction or utility derived from each additional unit decreases.

In a socialist economic system, the government owns and controls the means of production, such as factories, industries, and natural resources.

Government expenditure refers to the spending by the government on various goods and services, such as infrastructure, education, healthcare, and social welfare programs.

Income tax is a tax levied on the income earned by individuals and corporations.

Public debt refers to the total amount of money that the government owes to its creditors, including domestic and foreign lenders.

In a capitalist economic system, the means of production are privately owned and controlled by individuals or corporations.

Fiscal policy refers to the government's use of taxation and spending to influence the economy.

Sales tax is a tax levied on the sale of goods and services.

Monetary policy refers to the government's use of interest rates and the money supply to influence the economy.

In a communist economic system, the means of production are owned and controlled by workers through collective ownership.