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 | Business | UK Edition

Credit crunch 'to last into 2010'
Sat, 06 Sep 2008 08:21:55 -0000
The credit crunch is likely to last another 18 months, the head of the UK's largest mortgage provider warns.
Belfast City Airport sells for £132.5m
Sat, 06 Sep 2008 11:29:10 -0000
George Best Belfast City Airport is sold to the ABN AMRO Global Infrastructure Fund at a price tag of £132.5m.
Key US lenders to face new curbs
Sat, 06 Sep 2008 10:21:45 -0000
US officials plan to put troubled mortgage giants Freddie Mac and Fannie Mae under strict federal control, media say.

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