economic system Synonyms
No Synonyms and anytonyms found
economic system Meaning
Wordnet
economic system (n)
the system of production and distribution and consumption
economic system Sentence Examples
- Capitalism is an economic system in which private individuals or businesses own and control the factors of production.
- Socialism is an economic system in which the government or a collective owns and controls the factors of production.
- Mixed economies are economic systems that combine elements of both capitalism and socialism.
- Free market economies are economic systems in which the prices of goods and services are determined by supply and demand.
- Command economies are economic systems in which the government determines the prices of goods and services.
- Economic systems are designed to allocate scarce resources among different individuals and groups in society.
- The economic system of a country can have a significant impact on its standard of living and quality of life.
- There is no single economic system that is perfect for all countries.
- The best economic system for a particular country will depend on its specific circumstances.
- Economic systems are constantly evolving and changing.
FAQs About the word economic system
the system of production and distribution and consumption
No synonyms found.
No antonyms found.
Capitalism is an economic system in which private individuals or businesses own and control the factors of production.
Socialism is an economic system in which the government or a collective owns and controls the factors of production.
Mixed economies are economic systems that combine elements of both capitalism and socialism.
Free market economies are economic systems in which the prices of goods and services are determined by supply and demand.
