economy, economic system(noun)
the system of production and distribution and consumption
An economic system is a system for producing, distributing and consuming goods and services, including the combination of the various institutions, agencies, consumers, entities that comprise the economic structure of a given society or community. It also includes how these various agencies and institutions are linked to one another, how information goes between them, and the social relations within the system. A related concept is the mode of production. Among actual economic systems, distinctive methods of analysis have developed, such as socialist economics and Islamic economic jurisprudence. Today the dominant form of economic organization at the global level is based on capitalist mixed economies. Economic systems is the category in the Journal of Economic Literature classification codes that includes the study of such systems. One field that cuts across them is comparative economic systems. Subcategories of different systems there include: ⁕planning, coordination, and reform ⁕productive enterprises; factor and product markets; prices; population ⁕public economics; financial economics
The numerical value of economic system in Chaldean Numerology is: 1
The numerical value of economic system in Pythagorean Numerology is: 7
Sample Sentences & Example Usage
Daily life is governed by an economic system in which the production and consumption of insults tends to balance out.
You have to address race, but you can't address race only, you have to address class and the economic system. Even if you got rid of racism, the Southern economic model still exists. It's unchanged.
Israel is more than an American ally, she is a mirror image of America in commitment to religious liberty, women's rights, free speech, elected government and an economic system based on free enterprise.
Their frustrations are not just about the police but also the education system, the economic system -- they have lots of grudges, police violence is just the trigger, the feelings are about much wider issues.
Muhammadiyah is now in the middle of a struggle between a capitalist economic system and a socialist economic system, the world will not reach peace and prosperity through political intrigue, but rather through economic balance.
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"economic system." Definitions.net. STANDS4 LLC, 2017. Web. 29 Mar. 2017. <http://www.definitions.net/definition/economic system>.