economic system

Definitions of economic system
  1. noun
    the system of production and distribution and consumption
    synonyms: economy
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    an economic system built on large industries rather than on agriculture or craftsmanship
    free enterprise, laissez-faire economy, market economy, private enterprise
    an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
    mixed economy
    an economic system that combines private and state enterprises
    non-market economy
    an economy that is not a market economy
    state capitalism
    an economic system that is primarily capitalistic but there is some degree of government ownership of the means of production
    state socialism
    an economic system in which the government owns most means of production but some degree of private capitalism is allowed
    capitalism, capitalist economy
    an economic system based on private ownership of capital
    managed economy
    a non-market economy in which government intervention is important in allocating goods and resources and determining prices
    type of:
    scheme, system
    a group of independent but interrelated elements comprising a unified whole
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