Economic system

Economic system,

Definition of Economic system:

  1. A system by which a society or other structure is organized with regard to its economy; the sum of the economic institutions and arrangements of a society.

  2. An organized way in which a state or nation allocates its resources and apportions goods and services in the national community.

How to use Economic system in a sentence?

  1. The economic system in many African countries is substandard as citizens dont have enough money for basics such as food and education.
  2. The United States tries to practice a capitalist economic system , although many different economic system s exist amongst other political groups around the world.
  3. There exists an economic system in the USA which was not always fair to people of color just less than 100 years ago.

Meaning of Economic system & Economic system Definition