Meaning of the word "economic system" in English
What does "economic system" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
economic system
US /ˌiː.kəˈnɑː.mɪk ˈsɪs.təm/
UK /ˌiː.kəˈnɑː.mɪk ˈsɪs.təm/
Noun
1.
a system of production, resource allocation, and distribution of goods and services within a society or a given geographic area
Example:
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Capitalism is a common type of economic system.
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Different countries operate under different economic systems.
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