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Meaning of ECONOMIC SYSTEM

Pronunciation:  `eeku'nâmik 'sistum

 
WordNet Dictionary
 
 Definition: 
[n]  the system of production and distribution and consumption
 
 Synonyms: economy
 
 See Also: black economy, free enterprise, industrialism, laissez-faire economy, market economy, non-market economy, sector, state capitalism, state socialism, system

 

 

Glossary
 
 Definition: the ideas and institutions that people draw upon and the behaviors in which they engage in order to secure resources to satisfy their needs and desires.
 

 

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