economic system

Other forms: economic systems

Definitions of economic system

1. noun

   the system of production and distribution and consumption
   synonyms: economy

   types:

   industrialism

   an economic system built on large industries rather than on agriculture or craftsmanship

   free enterprise, free market, 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

   pastoralism

   a social and economic system based on raising and herding livestock

   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