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 Sydney Morning Herald National Headlines

Breathing easier, but still feeling the strain
Wed, 08 Oct 2008 01:00:01 +1100
ACROSS Sydney's mortgage belt yesterday many families were celebrating the Reserve Bank's large interest rate cut, but others, like Sophia Helene, could only feel a little relieved.
Cancer diagnosis: victim sues
Wed, 08 Oct 2008 01:00:01 +1100
A TERMINALLY ill Sydney woman is suing for damages, arguing that performance bonuses for radiologists may have led to her breast cancer not being diagnosed.
Newborn found in flat's foyer
Wed, 08 Oct 2008 01:00:01 +1100
A BABY girl, thought to be less that 12 hours old, was abandoned in the foyer of a block of units in Mortdale, in southern Sydney, yesterday afternoon.
Water to burn at fussy Starbucks
Wed, 08 Oct 2008 01:00:01 +1100
WHILE years of drought mean many Australians wouldn't consider leaving the tap running while they brush their teeth, the coffee shop chain Starbucks leaves a tap running all day in each of its 23 Australian stores.
Patients to be told of extra gap fees
Wed, 08 Oct 2008 01:00:01 +1100
GAP fees charged by doctors after treatment without warning are in line for restrictions by the Federal Government.

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