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Economic system

💡 Words with a Similar Meaning to "Economic system"

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WordDefinition
economynounThe system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
comparative economic systemsComparative Economic Systems is the sub-classification of economics dealing with the comparative study of different systems of economic organization, such as capitalism, socialism, feudalism and the mixed economy.
new institutional economicsNew Institutional Economics is an economic perspective that attempts to extend economics by focusing on the institutions (that is to say the social and legal norms and rules) that underlie economic activity and with analysis beyond earlier institutional economics and neoclassical economics.
political economynoun(economics, politics) Interdisciplinary studies drawing upon economics, law, and political science in explaining how political institutions, the political environment, and the economic system — capitalist, socialist, mixed, and so on — influence each other.
marketnounAny physical store selling groceries, such as a grocery store or convenience store.
planned economynoun(economics, politics) An economic system in which government directly manages supply and demand for goods and services by controlling production, prices, and distribution in accordance with a long-term design and schedule of objectives.
economicsnoun(social sciences) The study of resource allocation, distribution and consumption; of capital and investment; and of management of the factors of production.
mode of productionnoun(Marxism) A combination of productive forces such as labour power and means of production, and social and technical relations of production such as property, power, laws and regulations, etc.
capitalismnoun(economics) An economic system based on private ownership of the means of production and their operation for profit.
business economicsnoun(economics) The buying and selling of products from an economical viewpoint, dealing with the manufacture, distribution, and usage of the product.
market economynounAn economy in which goods and services are exchanged in a market, as opposed to a state-controlled economy.
international monetary systemAn international monetary system is a set of internationally agreed rules, conventions and supporting institutions that facilitate international trade, cross border investment and generally the reallocation of capital between states that have different currencies.
economic determinismnoun(economics) A socioeconomic theory stating that economic relationships (such as being an owner or capitalist, or being a worker or proletarian) are the foundation upon which all other societal and political arrangements are based
international economicsconcerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them.
economic policyThe economy of governments covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labour market, national ownership, and many other areas of government interventions into the economy.
constitutional economicsa research program in economics and constitutionalism that has been described as explaining the choice "of alternative sets of legal-institutional-constitutional rules that constrain the choices and activities of economic and political agents".
market socialismnounAn economic system involving the public, cooperative or social ownership of the means of production in the framework of a market economy.
communist societyIn Marxist thought, a communist society or the communist system is the type of society and economic system postulated to emerge from technological advances in the productive forces, representing the ultimate goal of the political ideology of communism.
socioeconomicsnounThe branch of economics that deals with social aspects.
macroeconomicsnounThe study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices.

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