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Definition of Economic system

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

Noun
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
Wikipedia English - The Free Encyclopedia
An economic system is the system of producing and distributing of goods and services and allocating resources in a society. It includes the combination of the various institutions, agencies, entities (or even sectors as described by some authors) and consumers that comprise the economic structure of a given community. A related concept is the mode of production.

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