Glossary Terms:

One Country / Two Systems

Glossary terms from:

Economic Systems

The institutional framework of formal and informal rules that a society uses to determine what to produce, how to produce and how to distribute goods and services.


The study of how people, firms and societies choose to allocate scarce resources with alternative uses.


Something a person or organization plans to achieve in the future; an aim or desired result.


A job or profession; also a category of work, sometimes identified by the degree of skill required.