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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India Business News | Business News - Times of India

Sensex down 80 points in early trade on weak global cues
Fri, 18 Dec 2009 05:17:10 -0000
The Bombay Stock Exchange benchmark Sensex on Friday fell by over 80 points in early trade amid capital outflows by foreign funds on weak global cues.
Rupee down 5 paise at 46.93 a dollar
Fri, 18 Dec 2009 05:13:34 -0000
Continuing with its losing streak, the rupee on Friday fell by 5 paise in opening trade to 46.93 against the US dollar largely on fears of capital outflows by foreign funds.
‘RNRL dishing out blatant lies’
Thu, 17 Dec 2009 20:29:48 -0000
Firing on all cylinders against Anil Ambani’s RNRL on the last lap of arguments in the gas dispute case, Mukesh Ambani’s RIL accused Anil of getting cheeky with the SC and the Centre by dishing out blatant lies.
Court issues warrant against Raju
Thu, 17 Dec 2009 20:21:58 -0000
A local court issued a production warrant against former Satyam Computer chairman Ramalinga Raju to produce him before it on December 30, in a case filed by Serious Fraud Investigation Office.
‘Emerging markets favourite in 2010’
Thu, 17 Dec 2009 20:16:40 -0000
Global investors remain optimistic about emerging market (EM) equities in 2010 and have forecast 9% total return for them in New Year, above 7.7% for global markets and 5.5% predicted for US.
Rs 380-crore subsidy for wind power
Thu, 17 Dec 2009 20:19:01 -0000
India will offer Rs 380 crore ($81 million) in incentives to wind power projects that feed into the national grid, the government said on Thursday, a move analysts believe will attract large companies.

International Business, World & Global Business News | Business News - Times of India

US stocks sink as dollar soars, FedEx loses altitude
Thu, 17 Dec 2009 22:44:07 -0000
US stocks fell on Thursday as the dollar's rebound spurred a safe-haven trade, cutting demand for riskier assets, while a soft profit outlook from economic bellwether FedEx sank transportation shares.
Economic activity picking up, says Federal Reserve
Thu, 17 Dec 2009 20:31:34 -0000
The US Federal Reserve has said economic activity is improving while deciding to continue with the near-zero interest rate regime to bolster the economy.
Brian Moynihan to be new BoA CEO from Jan
Thu, 17 Dec 2009 20:30:16 -0000
Bank of America’s new CEO says he doesn’t expect to lead a major shift in strategy at the nation’s largest bank when he takes over from Ken Lewis on January 1.
Insider trading charges on Wall St tycoon
Thu, 17 Dec 2009 20:25:30 -0000
A Wall Street trader named Steven A Cohen married his sweetheart, Patricia Finke. Today, divorced Cohen is among the world’s richest hedge fund managers. And Finke is levelling some startling accusations.
US House approves $155 billion jobs bill
Thu, 17 Dec 2009 04:20:52 -0000
The US House of Representatives on Wednesday narrowly approved a $155 billion measure that seeks to create jobs and blunt the impact of the worst recession since the 1930s.
US stocks end slightly higher after Fed's statement
Thu, 17 Dec 2009 00:49:19 -0000
US stocks finished flat to slightly higher on Wednesday after the Federal Reserve reiterated its intention to keep interest rates low for the foreseeable future to ensure a sustainable economic recovery.



Sensex down 80 points in early trade on weak global cues
The Bombay Stock Exchange benchmark Sensex today fell by over 80 points in early trade amid capital outflows by foreign funds on weak global cues.
UK court declares British Airways strike illegal
Passengers and British Airways management heaved a sigh of relief as the 12-day strike by cabin crew of the airlines over the Christmas period was declared illegal by the high court here.
US bakery chain Au Bon Pain enters India

The US bakery cafe chain Au Bon Pain entered the country with the launch of its first cafe in Bangalore on Thursday. The Boston-based bakery chain plans to open 10 cafes in Bangalore itself and another 40 across the Southern cities with an investment of around Rs 30 crore by 2012, the company said.
RIL, Unitech, HDFC lead wealth creators
Reliance has come up as the biggest wealth creator in the country’s stock market for third time in a row while realty firm Unitech is the fastest and housing lender HDFC is the most consistent creator of wealth, said the MOSL study on wealth creation.
Govt can undo court on gas: RIL
Mukesh Ambani-led RIL told the Supreme Court that the government might even undo the judicial verdict, holding that it has no power to regulate the gas price as per the terms of Production Sharing Agreement (PSC) with RIL.
Turner gets real for India with Imagine
The board of Time Warner board has cleared the acquisition of a 92 per cent stake in NDTV Imagine by its Turner arm for $126.5 million (Rs 595 crore) helping it move forward in India’s hot entertainment TV market after its first venture Real fizzled out.

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