An economic system is a mechanism (social institution) which deals with the production, distribution and consumption of goods and services in a particular society.

The economic system is composed of people, institutions and their relationships. It addresses the problems of economics, like the allocation and scarcity of resources.

The division of economic systems

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More on [ Economic system ]

BBC News | Asia-Pacific | World Edition

Thai PM Samak refuses to resign
Sat, 30 Aug 2008 09:50:49 -0000
Thailand's Prime Minister Samak Sundaravej says he will not resign, despite mounting anti-government protests.
Manila ferry blast suspect held
Sat, 30 Aug 2008 10:03:37 -0000
A leading suspect in the Philippines' worst militant attack - the 2004 Manila Bay ferry bombing - is arrested in Bahrain.
Japan unveils economic boost plan
Fri, 29 Aug 2008 10:53:48 -0000
Japan unveils a stimulus package worth 11.7 trillion yen to boost the country's flagging economy and stave off recession.
Papua hikers find 'WWII airman'
Fri, 29 Aug 2008 09:22:06 -0000
Australian hikers following a trail in Papua New Guinea find the suspected remains of a WWII airman hanging in a tree.
Oxygen bottle behind Qantas blast
Fri, 29 Aug 2008 06:53:26 -0000
Australian investigators confirm that an exploding oxygen cylinder blew the huge hole in a Qantas plane last month.
China admits mismanaged funds
Thu, 28 Aug 2008 08:33:29 -0000
China's government departments misused, embezzled or mismanaged more than $6.7bn in 2007, the state auditor says.

NYT > Asia Pacific

Crusader Sees Wealth as Cure for India Caste Bias
Sat, 30 Aug 2008 06:43:50 -0000
Chandra Bhan Prasad’s latest crusade is to argue that India’s economic liberalization is about to do the unthinkable: destroy the caste system.
Millions Are Displaced by Floods in India
Sat, 30 Aug 2008 07:35:16 -0000
More than 2.1 million people and over 394 square miles have been affected by the flooding, according to the government.
Joint Inquiry on Deaths of Afghans Is Proposed
Sat, 30 Aug 2008 07:27:51 -0000
The American commander of the NATO force in Afghanistan offered to conduct a joint investigation on the loss of civilian life in the airstrikes from last week.

L.A. Times - Asia

Dalai Lama doing well, will fast for peace
Fri, 29 Aug 2008 00:00:00 -0700
The Dalai Lama was doing well after undergoing initial tests in a hospital in western India today and planned to participate in a 12-hour fast for peace, officials said.
WORLD BRIEFING
Sat, 30 Aug 2008 00:00:00 -0700
Iran: Centrifuges increased / Pakistan: Presidential candidate moves to secured house / Thailand: Protests continue / Brazil: Plan for nuclear sub / Canada: Death is blamed on tainted cheese Number of centrifuges increases
Integrity Bank in Georgia is 10th to fail
Sat, 30 Aug 2008 00:00:00 -0700
FINANCE Bank in Georgia is 10th to fail

UN News Centre - Asia Pacific

India: Ban expresses sadness for deaths and damage caused by floods
Fri, 29 Aug 2008 00:00:00 -0500
Secretary-General Ban Ki-moon today expressed his sadness upon hearing of the death and property damage caused by devastating flooding - the worst in five decades - in Bihar state, in India's north-east.
Melbourne books its place in UN cultural network of cities
Fri, 29 Aug 2008 00:00:00 -0500
Melbourne has been declared a City of Literature by the United Nations cultural agency, joining a global network of cities set up to promote their cultural, social and economic development in fields ranging from gastronomy to music to folk art.
Efforts to bridge Afghanistan's digital divide gets boost from UN
Fri, 29 Aug 2008 00:00:00 -0500
A new agreement between the United Nations and the Afghan Government will help boost efforts to narrow the gap between those in the South Asian nation who benefit from the use of information and communication technology (ICT) and those who do not.

Asia - Pacific - International Herald Tribune

3 airports blocked as Thai protests spread
By THOMAS FULLER Fri, 29 Aug 2008 21:34:25 -0000
Protesters occupied or blocked three provincial airports and continued to occupy the Prime Minister Samak Sundaravej's compound hoping to bring the demonstrations toward a conclusive climax.
Major monastery reopens in Tibet
Fri, 29 Aug 2008 21:34:25 -0000
The Drepung Monastery had been closed to the public since March 14, when protests led by monks against Chinese rule turned violent and businesses, shops and vehicles were looted and burned.
Aide says Dalai Lama health not serious
By Nishika Patel Fri, 29 Aug 2008 13:00:46 -0000
Doctors treating the Dalai Lama say there is no cause for concern despite him being admitted to hospital in India, and the exiled Tibetan spiritual leader will take part in a fast on Saturday, aides said.
Floods in India imperil millions
By HEATHER TIMMONS AND HARI KUMAR Fri, 29 Aug 2008 21:34:25 -0000
Destitute farmers and their families may be displaced for months after severe floods in northern India wiped out crops and homes.
Attack on police bus kills at least 8 in Pakistan
By JANE PERLEZ AND PIR ZUBAIR SHAH Fri, 29 Aug 2008 21:34:25 -0000
A car bomb apparently planted by Taliban insurgents blew up a police bus in northwest Pakistan on Thursday, killing at least six policemen, security officials said.
Bhutto's widower moves into guarded compound
Fri, 29 Aug 2008 13:07:36 -0000
Pakistan has been hit by a string of suicide bombings in the past two weeks, including one last week that left 67 dead, many of them civilians.

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