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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NPR Topics: Business

Risks, Benefits Of Securitization Under Scrutiny
Fri, 03 Jul 2009 00:01:00 -0400
As part of its plan to reform financial markets, the Obama administration will turn its focus to the securitization industry. These days, almost anytime someone borrows money, the debt gets repackaged into a security that can be bought or sold like a stock.
Apple Warns Some iPhones May Have Heat Issues
Fri, 03 Jul 2009 08:24:00 -0400
Apple Inc. has issued an advisory that some 3G and 3GS iPhones may not do well in hot conditions. Apple is telling owners to keep the phones in places where the temperature is below 95 degrees.
FDIC Closes 1 Banks In Texas, 6 In Illinois
Fri, 03 Jul 2009 08:14:00 -0400
Seven banks were shut down Thursday — pushing the total number of banks that have failed this year to 52. The year is just half over, and already the figure is more than double what it was for all of 2008. Back in 2007, only three banks failed.

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