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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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"The economy ebbs and flows, but this business stays the same." -@mbundy in Richmond 12/12/09 (via @JPry)
LTDHQ (LTD) Sun, 20 Dec 2009 20:05:18 -0000
"The economy ebbs and flows, but this business stays the same." -@mbundy in Richmond 12/12/09 (via @JPry)
@Evangelic_Diva I'm not tops yet, but when the economy was good I did well and had a lot of fun with it. I love the business.
Realtorkeita (Lisa Keita) Sun, 20 Dec 2009 19:57:18 -0000
@Evangelic_Diva I'm not tops yet, but when the economy was good I did well and had a lot of fun with it. I love the business.
Is There Hope for America's Economy? - Business, Finance, and ...: Originally Posted by chet everett ... -- ev
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