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Definition of Economic system

Economic system Definition from Language, Idioms & Slang Dictionaries & Glossaries
WordNet 2.0

1. the system of production and distribution and consumption
(synonym) economy
(hypernym) system, scheme
(hyponym) industrialism
(part-meronym) sector
Economic system Definition from Encyclopedia Dictionaries & Glossaries
English Wikipedia - The Free Encyclopedia
An economic system is a system of production, resource allocation, exchange, and distribution of goods and services in a society or a given geographic area. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. As such, an economic system is a type of social system. The mode of production is a related concept.

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