Definition of Economic system
Get Babylon's Dictionary & Translation Software Free Download Now!
Economic system Definition from Language, Idioms & Slang Dictionaries & Glossaries
1. the system of production and distribution and consumption
(hypernym) system, scheme
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.
|See more at Wikipedia.org...|