Local government is a generic term for the lowest tiers of public administration within a particular sovereign state. This particular usage of the word government refers specifically to a level of administration that is both geographically localised and has limited powers. While in some countries, "government" is normally reserved purely for a national administration (government) (which may be known as a central government or federal government), the term local government is always used specifically in contrast to national government – as well as, in many cases, the activities of sub-national, first-level administrative divisions (which are generally known by names such as cantons, provinces, states, oblasts, or regions).
A municipality is usually a single administrative division having corporate status and powers of self-government or jurisdiction as granted by national and regional laws to which it is subordinate. The term municipality may also mean the governing body of a given municipality. A municipality is a general-purpose administrative subdivision, as opposed to a special-purpose district. The term is derived from French municipalité and Latin municipalis.
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.
A public–private partnership (PPP, 3P, or P3) is a long-term arrangement between a government and private sector institutions. Typically, it involves private capital financing government projects and services up-front, and then drawing revenues from taxpayers and/or users over the course of the PPP contract. Public–private partnerships have been implemented in multiple countries and are primarily used for infrastructure projects. They have been employed for building, equipping, operating and maintaining schools, hospitals, transport systems, and water and sewerage systems.
A municipal council is the legislative body of a municipality or local government area. Depending on the location and classification of the municipality it may be known as a city council, town council, town board, community council, rural council, village council, or board of aldermen. Local government in Australia Because of the differences in legislation between the states, the exact definition of a city council varies.
