Privatization

The transfer of authority to provide a good or service from a government to individuals or private company to reduce the cost.

Capitalism

An economic-political system in which private citizens are free to go to into business for themselves .

Ex) US

Socialism

A political-economy system in which the government controls the use of the country's factor of production.

Ex)Sweden

Communism

A political-economic system , in which all or almost all of a nation's factors of production are owned by the government.