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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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AP Top Business News At 11:49 p.m. EST

Stocks climb as employers cut fewer jobs
NEW YORK (AP) -- Investors grew more confident about the economy but also worried that a brighter employment picture will mean rising interest rates....
Unexpected drop in jobless rate sparks optimism
WASHINGTON (AP) -- Two years of steep job cuts all but ended last month, unexpectedly pulling down the unemployment rate and raising hopes for a lasting economic recovery....
Regulators shut AmTrust Bank in Ohio, 5 others
WASHINGTON (AP) -- Regulators on Friday shut down Ohio's AmTrust Bank, the fourth-largest bank to fail this year. They also closed five others, bringing to 130 the number of U.S. banks to be brought down so far in 2009 by recession and mountains of bad debt....

azcentral.com | business

Tie rebalancing to experts' mix, adviser suggests
Russ Wiles Sat, 05 Dec 2009 00:00:00 -0700
What's the best way to rebalance your investment portfolio? A Prescott investment adviser suggests watching what professional money managers are doing.
Pace of job losses slowed significantly in Nov., but most expect weak labor market to persist
Christopher S. Rugaber Fri, 04 Dec 2009 15:25:46 -0700
WASHINGTON - A surprising drop in the unemployment rate and far fewer job losses last month cheered investors Friday and raised hopes for a sustained economic recovery.
FCC asks Verizon Wireless to explain fees
Fri, 04 Dec 2009 14:58:22 -0700
The Federal Communications Commission on Friday asked Verizon Wireless why it recently doubled the fees it charges customers when they break their contracts on "smart" phones.

 
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