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

Rifts appear ahead of G20 meeting
Fri, 06 Nov 2009 23:36:24 -0000
Disputes over climate change and stimulus spending have emerged ahead of a G20 meeting in St Andrews in Fife.
Treasury seeks RBS lending proof
Fri, 06 Nov 2009 18:17:26 -0000
The Treasury demands proof from bailed-out Royal Bank of Scotland that there is little demand for its business loans.
US jobless rate rises to over 10%
Fri, 06 Nov 2009 17:47:19 -0000
The US economy lost 190,000 jobs in October, taking the jobless rate above 10% for the first time since 1983.

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