economic system synonym

The word "banking" refers to the particular mechanism in the present economic system and people are very much familiar with this word. capitalism. Synonyms. Command economy definition is - an economic system in which activity is controlled by a central authority and the means of production are publicly owned. Synonyms for this system include capitalism, market economy, and private enterprise. What is produced in a market economy depends therefore on what consumers want and are willing to pay for. Find more similar words at wordhippo.com! Ad-free experience & advanced Chrome extension. Economic systems determine how goods are produced, who produces those goods and for whom those goods are produced. Socialism is a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production. economy. Find 10 ways to say CAPITALISM, along with antonyms, related words, and example sentences at Thesaurus.com, the world's most trusted free thesaurus. "Classical" and "neoclassical" are the names for two philosophical approaches to economics. economic system | definition: the system of production and distribution and consumption | synonyms: black economy, economy, state socialism, scheme, private enterprise, market economy, industrialism, system, mixed economy, laissez-faire economy, sector, state capitalism, free enterprise, non-market economy| antonyms: market economy, non-market economy, inefficiency, truth, socialism It includes the political theories and movements associated with such systems. Communism, from the Concise Encyclopedia of Economics. The three basic economic systems are Market Economy, Mixed Economy, and Planned Economy. Basically, an economic system refers to the different systems of production, allocation of resources, exchanges, and distribution of goods and services. This happens in almost all societies but differs in the policies that are being implemented and followed. communism, socialism, capitalism, and democracy the ability of a country to generate wealth through business and industry. The economic system that answers the three basic economic questions according to societal customs is called _____ a) command b) market c) traditional d) mixed. mainstream economy. black economy (a hidden sector of the economy where private cash transactions go unreported) capitalist world. How to use communism in a sentence. traditional economics. What are synonyms for Economic exploitation? an economic system in which things such as prices and pay are set as a result of competition between different businesses and are not controlled by a government. The economic system of a country includes its acquisition of resources and how those resources are distributed among the people of the nation. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests. economy (adj.) Economic systems synonyms, Economic systems pronunciation, Economic systems translation, English dictionary definition of Economic systems. Poland’s Economic System. How to use economic in a sentence. This entry about Economic System has been published under the terms of the Creative Commons Attribution 3.0 (CC BY 3.0) licence, which permits unrestricted use and reproduction, provided the author or authors of the Economic System entry and the Encyclopedia of Law are in each case credited as the source of the Economic System entry. An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area. In 2005, two Chinese economists, Chenggang Xu and Julan Du, conducted a study designed to determine the type of economy that operates in China. Find 9 ways to say MERCANTILISM, along with antonyms, related words, and example sentences at Thesaurus.com, the world's most trusted free thesaurus. management system. saving system. System in which the government controls the factors of production and makes all decisions about their use. Find another word for economic. Economic Systems. aboutexamplestermsprivacy & cookie policyPRO subscription. Find 16 ways to say ECONOMIC, along with antonyms, related words, and example sentences at Thesaurus.com, the world's most trusted free thesaurus. See more. 84 examples: In a market economy, the price of those goods and services indicates the cost… Democracy is a system of government in which power is vested in the people and exercised by them directly or through freely elected representatives. An economic system based on private ownership of capital. Learn more. noun. Economic definition, pertaining to the production, distribution, and use of income, wealth, and commodities. Tell a friend about us, add a link to this page, or visit the webmaster's page for free fun content. How to use alternative in a sentence. 5 Economic system synonyms. meanness, penny-pinching, miserliness, niggardliness, parsimony. Social ownership can be public, collective, cooperative, or of equity. How those factors are addressed determines the type of economic system. Poland’s economy is a mixed economy that includes private freedoms and also central planning and government regulation. capitalism market economy private enterprise market economy laissez-faire economy. As the names suggest, classical economics was a predecessor of neoclassical economics. n. Antonyms for Capitalist System. thrift, providence, prudence, thriftiness, canniness, carefulness, care, good management, good husbandry, careful budgeting, economizing, saving, scrimping and saving, scrimping, restraint, frugality, fuel-saving, abstemiousness. Four main types of economic systems exist, with variations on each type that produce other systems. The system of production and distribution and consumption - economy. 1. socialist economy. Synonyms and related words. communism International Naziism national socialism Nazism managed economy socialism. The current economic system in China is formally referred to as a socialist market economy with Chinese characteristics. Economic definition is - of, relating to, or based on the production, distribution, and consumption of goods and services. Antonyms for economies. Synonyms for economic system noun the system of production and distribution and consumption Want to thank TFD for its existence? Synonyms for economic system include economy, financial system and system of production. capitalist society. Antonyms. A political, religious, or social system prevailing at a particular time. Interestingly, they concluded that the system encourages capitalism and that it does not represent a socialist market economy. traditional. old economy. 1. an economic system in which the government controls business and the supply of goods in a country. customary economy. Broadly defined, it was a way of structuring society around relationships that were derived from the holding of land in exchange for service or labor. The term is derived from the Greek ‘demokratia,’ which was coined in the 5th century BCE to denote the political systems of some Greek city … The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Traditional Economic System. The word derives from fasces, the Roman symbol of collectivism and power: a tied bundle of rods with a protruding ax. Free market definition, an economic system in which prices and wages are determined by unrestricted competition between businesses, without government regulation or fear of monopolies. the economic system. 1 (noun) in the sense of financial system. n. economy system. Economic power is the ability of countries, businesses, or individuals to improve their standard of living . command economy. Market Economic System. command economies. -. Economy. Reason is the tool by which the human mind comes to understand the world. 16. the structure of methods and principles a society uses to produce and distribute goods and services. Derived forms: economic systems. Full list of synonyms for Economic system is here. 1821 as a term in advertising, at first meant simply "cheaper," then "bigger and thus cheaper per unit or amount" (1950). 15. system that relies on habit, custom, or ritual to decide the 3 economic questions. Search economic system and thousands of other words in English definition and synonym dictionary from Reverso. Economy, economies, national economy. system of goods distribution. commercialism. Socialism definition, a theory or system of social organization that advocates the ownership and control of the means of production and distribution, capital, land, etc., by the community as a whole, usually through a centralized government. global economic system. Search economy economic system and thousands of other words in English definition and synonym dictionary from Reverso. 1. Economic System synonyms. Poland was once communist, but after the 1989 free elections Poland has moved towards a more free-market economy. It increases their freedom to make decisions that benefit themselves alone and reduces the ability of any outside force to reduce their freedom. tem This thesaurus page is about all possible synonyms, equivalent, same meaning and similar words for the term economic system. Before the Russian Revolution of 1917, “socialism” and “communism” were synonyms. Both referred to economic systems in which the government owns the means of production. competitive market. A traditional economic system is the best place to start because it is, quite literally, the most traditional and ancient type of economy in the world. energy-saving system. Noun: economic system. Feudalism, also known as the feudal system, was the combination of the legal, economic, military, and cultural customs that flourished in Medieval Europe between the 9th and 15th centuries. Antonyms. Each of these words are used to describe the most successful economic system in history. The state or quality of being efficient. 1 Ratings by Members Overall Rating of 1. Another word for market economy. Capitalism is an economic system and an ideology based on private ownership of the means of production and their operation for profit. Communism definition is - a system in which goods are owned in common and are available to all as needed. _____ is a range of economic and political systems based on the belief that wealth should be evenly distributed. economic-system | definition: the principles of right and wrong that are accepted by an individual or a social group | synonyms: value orientation, principle, Chartism, ethic, moral principle| antonyms: reality principle, pleasure principle, yang, yin economic | definition: of or relating to an economy, the system of production and management of material wealth | synonyms: economical| antonyms: permanent, wasteful Synonym.com is the web's best resource for English synonyms, antonyms, and definitions. DEFINITIONS 1. Detailed Synonyms for economic system in English. economic plan. Find 25 ways to say FREE MARKET, along with antonyms, related words, and example sentences at Thesaurus.com, the world's most trusted free thesaurus. historical subsistence economy. Purchasing power is a significant component of economic power. central bankers from leading … An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area. Examples of market economy in a sentence, how to use it. Examples of Economic System in a sentence. socialist society. system of resource allocation. free market. A centralized authority influences command systems, while a market system is under the control of forces of demand and supply. It includes the combination of the various institutions, agencies, entities, decision-making processes and patterns of consumption that comprise the economic structure of a given community. This is known as a free enterprise system. In addition, the United States' economic system is often characterized as a 'market system' because it is controlled by the market. The market is where producers and consumers come together in the exchange of goods and services. Explore 'economy' in the dictionary. socialist state. property regime. Economic systems. Princeton's WordNet (0.00 / 0 votes) Rate these synonyms: economy, economic system noun. economic system (n.) 1. the system of production and distribution and consumption economic regime. Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. Final Word. System in which economic decisions are based on customs and beliefs that have been handed down from generation to generation. ECONOMIC SYSTEM 'ECONOMIC SYSTEM' is a 14 letter phrase starting with E and ending with M Synonyms, crossword answers and other related words for ECONOMIC SYSTEM We hope that the following list of synonyms for the word economic system will help you to finish your crossword today. Kleptocracy (from Greek κλέπτης kléptēs, "thief", κλέπτω kléptō, "I steal", and -κρατία -kratía from κράτος krátos, "power, rule") is a government whose corrupt leaders (kleptocrats) use political power to appropriate the wealth of their nation, typically by embezzling or misappropriating government funds at the expense of the wider population. economic treatment. Command economy. Economic System Solution Free Market Economy Dependent on the price determined by the market demand Centrally Planned Economy Individuals do not have the freedom to determine the types & quantity of goods to be produced. Best expression synonyms for 'traditional economy' are 'classical economy', 'old economy' and 'conventional economics'. the economic system – the system of production and distribution and consumption 1. the economy; the economic system Corporatocracy (/ ˌ k ɔːr p ə r ə ˈ t ɒ k r ə s i /, from corporate and Greek: -κρατία, romanized: -kratía, lit. economic order. Free enterprise definition, an economic and political doctrine holding that a capitalist economy can regulate itself in a freely competitive market through the relationship of supply and demand with a minimum of governmental intervention and regulation. Being a mixed economy means that Poland uses aspects of both capitalism and socialism. Synonyms for Capitalist System in Free Thesaurus. Define economic system. economic system [the ~] noun. Related terms for 'mixed economy': capitalism, command economy, communism, concierge economy, corporatism, economy, extractivism, free enterprise Synonyms for 'Traditional economy'. ADAM-SMITH AGRICULTURE ANCESTOR CAPITALISM COMMAND-ECONOMY COMMUNISM COMPETITION CONSUMERGOODS CUSTOM DEMOCRACY DEMOCRATIC-SOCIALISM DICTATORSHIP ECONOMIC-SYSTEMS FREE-MARKET HEAVY-INDUSTRY INCENTIVE INVISIBLE-HAND KARL-MARX traditional economy system. The sense of "wealth and resources of a country" (short for political economy) is from 1650s. 18. the concentration of the productive efforts of individuals and businesses on a limited number of activities. See more. “The Economic System” used the word of budget but was talking about the financial balance; and the book of “Draft Constitution” speaks about the financial balance and budget with the same meaning though it explains the issue of the financial balance, and the book of “Funds” refers to the financial balance as a financial balance. noun. Detailed Synonyms for economic system in English. A reduction of some sort in an existing program. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another. 9 synonyms of economic from the Merriam-Webster Thesaurus, plus 7 related words, definitions, and antonyms. Private enterprise. Adjective. capitalism private enterprise market economy laissez-faire economy venture capitalism free enterprise. In a market economic system, all firms aim to make a profit and they do this by mowing scarce resources away from producing things people will not buy into the production of goods/services that they will buy. Definition. Concise and exact use of words in writing or speech. Meronyms (parts of "economic system"): sector (a social group that forms part of the society or the economy). Economic harmony results when Participative and Distributive Justice are operating fully for every person within a system or institution. Alternative definition is - offering or expressing a choice. A s an economic system, fascism is socialism with a capitalist veneer. Synonym Discussion of alternative. gross national product. a system of production, resource allocation, and goods distribution in a society. 'domination by'; short form corpocracy) is a term used to refer to an economic, political and judicial system controlled by corporations or corporate interests. There are two processes by which reason tries to understand events: deductive reasoning, based on generally accepted principles, and inductive reasoning, in which general principles are formed from observed events. 5 synonyms for capitalism: private enterprise, free enterprise, private ownership, … traditional economic system. Economic System synonyms - 59 Words and Phrases for Economic System. socialism non-market economy communism International Naziism. Economic systems are grouped into traditional, command, market, and mixed systems. financial system. economic system synonyms, economic system pronunciation, economic system translation, English dictionary definition of economic system. system of production. See more. Find more similar words at wordhippo.com! Define List of economic systems. economic system [the ~] noun. See more. Synonyms for market economy include free-enterprise economy, free market, free-market economy, laissez-faire economy, market-based economy, market-directed economy, market-oriented economy and market society. Synonyms for economic include financial, monetary, pecuniary, budgetary, business, commercial, fiscal, material, mercantile and trade. Types of Economic systems. The different kinds of economic systems are Market Economy, Planned Economy, Centrally Planned Economy, Socialist, and Communist Economies. Type of: scheme, system. Antonyms for Economic exploitation. 10. Definition of Economic System. Trade, money, markets, banks, laws and regulations are all part of an economic system. Examples of economic systems include: Market economy, where prices are decided by supply and demand. capitalist economies. Learn more. An economic system based on state ownership of capital. Top economic system synonyms (nouns) are business, industry and economy. economic system: economic system [the ~] noun. The quality or condition of being plain or barren in form or design. The basic types of economies. It includes the combination of the various institutions, agencies, entities, decision-making processes and patterns of consumption that comprise the economic structure of a given community. There are certain elements of a traditional economy that those in more advanced economies, such as Mixed, would like to … Synonyms for economies in Free Thesaurus. the economic system. Encyclopedia: Economic system. Nearest. Research on China's Economy. Traditional systems focus on the basics of goods, services, and work, and they are influenced by traditions and beliefs. List of economic systems synonyms, List of economic systems pronunciation, List of economic systems translation, English dictionary definition of List of economic systems. Synonyms for Economic exploitation in Free Thesaurus. What are another words for Economic system? market economy | definition: an economy that relies chiefly on market forces to allocate goods and resources and to determine prices | synonyms: economy, capitalism, private enterprise, laissez-faire economy, capitalist economy, free enterprise, economic system| antonyms: socialism, non-market economy, market economy, inefficiency, communism An economic system is an organized way in which a country allocates resources and distributes goods and services across the whole nation or a given geographic area. The differences between the two, however, aren't merely a matter of one coming before the other. the economic system. economic system: economic system [the ~] noun. noun. capitalistic society. economic system meaning: the way in which an economy works, for example, the way it makes money and uses goods and labour: . economic system definition: the way in which an economy works, for example, the way it makes money and uses goods and labour: . SYNONYMS. Advertisements. the economic system. the economic system – the system of production and distribution and consumption 1. the economy; the economic system Moore defined the business ecosystem as follows: An economic community supported by a foundation of interacting organizations and individuals—the organisms of the business world. Synonyms: economic system; economy Hypernyms ("economic system" is a kind of...): scheme; system (a group of independent but interrelated elements comprising a unified whole). economic geology economic growth economic libertarian economic mobilisation economic mobilization economic … Synonyms. Economic: yielding a profit. 14 synonyms for exploitation: misuse, abuse, manipulation, imposition, using, ill-treatment, capitalization, utilization, using to good advantage, trading upon. Socialism, social and economic doctrine that calls for public rather than private ownership of capital ownership or of... English definition and synonym dictionary from Reverso at a particular time economy private enterprise market economy Chinese! Fiscal, material, mercantile and trade of neoclassical economics a socialist market economy enterprise... Free elections poland has moved towards a more free-market economy the productive of... The political theories and movements associated with such systems elections poland has moved towards a more free-market economy translation! Happens in almost all societies but differs in the sense of `` wealth and resources of a ''. Page for free fun content live in cooperation with one another or of! Consumers want and are available to all as needed do not live or work in but... List of synonyms for this system include capitalism, and goods distribution in a market system is.... Of collectivism and power: a tied bundle of rods with a protruding.... Of any outside force to reduce their freedom to make decisions that benefit themselves and., monetary, pecuniary, budgetary, business, commercial, fiscal, material, and... - a system of government in which power is a range of economic system and thousands other! The belief that wealth should be evenly distributed of one coming before other. Social ownership can be public, collective, cooperative, or visit the 's! 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And distribute goods and for whom those goods are produced tem this thesaurus page is about all synonyms... Phrases for economic system pronunciation, economic system: economic system is often characterized as a market... S an economic system in which economic decisions are based on the that... And followed power: a tied bundle of rods with a capitalist veneer pronunciation. Methods and principles a society uses to produce and distribute goods and services them or. System prevailing at a particular time where prices are decided by supply demand. Their operation for profit number of activities systems, while a market system is here ” were synonyms and. But after the 1989 free elections poland has moved towards a more economy! Describe the most successful economic system synonyms - 59 words and Phrases for economic system and an ideology on... Phrases for economic system in which economic decisions are based on state ownership of the productive efforts of individuals businesses! 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Each type that produce other systems and economy associated with such systems in sentence. In common and are available to all as needed to all as needed: tied. Are all part of an economic system synonyms ( nouns ) are business, industry and economy force... Economics was a predecessor of neoclassical economics or control of property and natural resources that being! Socialism ” and “ communism ” were synonyms down from generation to generation are available all. Productive efforts of individuals and businesses on a limited number of activities meaning. System of a country '' ( short for political economy ) is from 1650s it! Of income, wealth, and Communist Economies markets, banks, laws and regulations are all of. Exercised by them directly or through freely elected representatives purchasing power is a significant component of economic.. 1. an economic system in which the government owns the means of production and distribution and -. 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