economic system synonym

1 (noun) in the sense of financial system. economic geology economic growth economic libertarian economic mobilisation economic mobilization economic … Economic harmony results when Participative and Distributive Justice are operating fully for every person within a system or institution. mainstream economy. system of production. tem This thesaurus page is about all possible synonyms, equivalent, same meaning and similar words for the term economic system. 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. Synonyms. traditional economic system. 'domination by'; short form corpocracy) is a term used to refer to an economic, political and judicial system controlled by corporations or corporate interests. Antonyms. Noun: economic system. meanness, penny-pinching, miserliness, niggardliness, parsimony. Synonyms for economic system noun the system of production and distribution and consumption Want to thank TFD for its existence? Definition of Economic System. What are another words for Economic system? Learn more. In 2005, two Chinese economists, Chenggang Xu and Julan Du, conducted a study designed to determine the type of economy that operates in China. The word derives from fasces, the Roman symbol of collectivism and power: a tied bundle of rods with a protruding ax. capitalism market economy private enterprise market economy laissez-faire economy. management system. Economic definition is - of, relating to, or based on the production, distribution, and consumption of goods and services. property regime. Learn more. A centralized authority influences command systems, while a market system is under the control of forces of demand and supply. free market. the economic system – the system of production and distribution and consumption 1. the economy; the economic system 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. Capitalism is an economic system and an ideology based on private ownership of the means of production and their operation for profit. List of economic systems synonyms, List of economic systems pronunciation, List of economic systems translation, English dictionary definition of List of economic systems. The economic system of a country includes its acquisition of resources and how those resources are distributed among the people of the nation. Market Economic System. Synonyms for 'Traditional economy'. 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. 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 regime. 1 Ratings by Members Overall Rating of 1. Antonyms for Economic exploitation. The system of production and distribution and consumption - economy. communism International Naziism national socialism Nazism managed economy socialism. socialism non-market economy communism International Naziism. capitalistic society. socialist state. Advertisements. economy. Princeton's WordNet (0.00 / 0 votes) Rate these synonyms: economy, economic system noun. Economic systems are grouped into traditional, command, market, and mixed systems. 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. 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. noun. 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 Find 16 ways to say ECONOMIC, along with antonyms, related words, and example sentences at Thesaurus.com, the world's most trusted free thesaurus. 15. system that relies on habit, custom, or ritual to decide the 3 economic questions. black economy (a hidden sector of the economy where private cash transactions go unreported) economic system meaning: the way in which an economy works, for example, the way it makes money and uses goods and labour: . 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. system of resource allocation. SYNONYMS. 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. Search economic system and thousands of other words in English definition and synonym dictionary from Reverso. capitalist society. Synonyms for economies in Free Thesaurus. economic plan. Economic systems determine how goods are produced, who produces those goods and for whom those goods are produced. Economic systems synonyms, Economic systems pronunciation, Economic systems translation, English dictionary definition of Economic systems. Type of: scheme, system. Synonyms for economic include financial, monetary, pecuniary, budgetary, business, commercial, fiscal, material, mercantile and trade. Research on China's Economy. 14 synonyms for exploitation: misuse, abuse, manipulation, imposition, using, ill-treatment, capitalization, utilization, using to good advantage, trading upon. How to use economic in a sentence. the economic system. Tell a friend about us, add a link to this page, or visit the webmaster's page for free fun content. 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. Before the Russian Revolution of 1917, “socialism” and “communism” were synonyms. Meronyms (parts of "economic system"): sector (a social group that forms part of the society or the economy). capitalism. -. competitive market. command economy. Synonyms and related words. 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. What are synonyms for Economic exploitation? 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. 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. See more. the economic system. global economic system. Private enterprise. noun. capitalism private enterprise market economy laissez-faire economy venture capitalism free enterprise. economic system [the ~] noun. Traditional systems focus on the basics of goods, services, and work, and they are influenced by traditions and beliefs. See more. Purchasing power is a significant component of economic power. Synonyms for economic system include economy, financial system and system of production. Four main types of economic systems exist, with variations on each type that produce other systems. 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. Reason is the tool by which the human mind comes to understand the world. Traditional 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. 9 synonyms of economic from the Merriam-Webster Thesaurus, plus 7 related words, definitions, and antonyms. 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 quality or condition of being plain or barren in form or design. Command economy definition is - an economic system in which activity is controlled by a central authority and the means of production are publicly owned. traditional economy system. Economic definition, pertaining to the production, distribution, and use of income, wealth, and commodities. Alternative definition is - offering or expressing a choice. Socialism, social and economic doctrine that calls for public rather than private ownership or control of property and natural resources. Economic System synonyms. Define economic system. 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 … Poland’s economy is a mixed economy that includes private freedoms and also central planning and government regulation. 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 gross national product. Synonym Discussion of alternative. thrift, providence, prudence, thriftiness, canniness, carefulness, care, good management, good husbandry, careful budgeting, economizing, saving, scrimping and saving, scrimping, restraint, frugality, fuel-saving, abstemiousness. “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. n. economy system. Poland was once communist, but after the 1989 free elections Poland has moved towards a more free-market economy. 16. the structure of methods and principles a society uses to produce and distribute goods and services. the ability of a country to generate wealth through business and industry. 1. an economic system in which the government controls business and the supply of goods in a country. Being a mixed economy means that Poland uses aspects of both capitalism and socialism. 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. saving system. Another word for market economy. economy (adj.) central bankers from leading … Find 10 ways to say CAPITALISM, along with antonyms, related words, and example sentences at Thesaurus.com, the world's most trusted free thesaurus. It includes the political theories and movements associated with such systems. Find more similar words at wordhippo.com! Find 9 ways to say MERCANTILISM, along with antonyms, related words, and example sentences at Thesaurus.com, the world's most trusted free thesaurus. 10. 18. the concentration of the productive efforts of individuals and businesses on a limited number of activities. 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. socialist society. Find more similar words at wordhippo.com! How to use communism in a sentence. Economic Systems. energy-saving system. 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. Communism, from the Concise Encyclopedia of Economics. system of goods distribution. An economic system based on state ownership of capital. Examples of Economic System in a sentence. A political, religious, or social system prevailing at a particular time. 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. Encyclopedia: Economic system. Find another word for economic. An economic system based on private ownership of capital. The differences between the two, however, aren't merely a matter of one coming before the other. 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. Poland’s Economic System. Derived forms: economic systems. System in which economic decisions are based on customs and beliefs that have been handed down from generation to generation. 5 Economic system synonyms. a system of production, resource allocation, and goods distribution in a society. Related terms for 'mixed economy': capitalism, command economy, communism, concierge economy, corporatism, economy, extractivism, free enterprise Democracy is a system of government in which power is vested in the people and exercised by them directly or through freely elected representatives. Antonyms for economies. 1. socialist economy. _____ is a range of economic and political systems based on the belief that wealth should be evenly distributed. Detailed Synonyms for economic system in English. Concise and exact use of words in writing or speech. the economic system. DEFINITIONS 1. 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 system synonyms, economic system pronunciation, economic system translation, English dictionary definition of economic system. According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another. Social ownership can be public, collective, cooperative, or of equity. 5 synonyms for capitalism: private enterprise, free enterprise, private ownership, … the economic system. historical subsistence economy. Interestingly, they concluded that the system encourages capitalism and that it does not represent a socialist market economy. Ad-free experience & advanced Chrome extension. A s an economic system, fascism is socialism with a capitalist veneer. traditional economics. "Classical" and "neoclassical" are the names for two philosophical approaches to economics. Detailed Synonyms for economic system in English. Economy, economies, national economy. 1. The word "banking" refers to the particular mechanism in the present economic system and people are very much familiar with this word. See more. Economic systems. Economic System synonyms - 59 Words and Phrases for Economic System. The sense of "wealth and resources of a country" (short for political economy) is from 1650s. n. What is produced in a market economy depends therefore on what consumers want and are willing to pay for. Types of Economic systems. The different kinds of economic systems are Market Economy, Planned Economy, Centrally Planned Economy, Socialist, and Communist Economies. 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. System in which the government controls the factors of production and makes all decisions about their use. economic system: economic system [the ~] noun. Top economic system synonyms (nouns) are business, industry and economy. 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 economic treatment. Synonyms for Economic exploitation in Free Thesaurus. commercialism. economic system (n.) 1. the system of production and distribution and consumption Final Word. economic order. 84 examples: In a market economy, the price of those goods and services indicates the cost… customary economy. Explore 'economy' in the dictionary. Communism definition is - a system in which goods are owned in common and are available to all as needed. capitalist world. communism, socialism, capitalism, and democracy Economic: yielding a profit. 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. command economies. 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. As the names suggest, classical economics was a predecessor of neoclassical economics. Full list of synonyms for Economic system is here. How to use alternative in a sentence. 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. See more. Both referred to economic systems in which the government owns the means of production. Command economy. The state or quality of being efficient. Economy. economic system: economic system [the ~] noun. Examples of market economy in a sentence, how to use it. 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. Nearest. Economic power is the ability of countries, businesses, or individuals to improve their standard of living . Definition. 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. Adjective. Synonyms for this system include capitalism, market economy, and private enterprise. noun. the economic system – the system of production and distribution and consumption 1. the economy; the economic system 1821 as a term in advertising, at first meant simply "cheaper," then "bigger and thus cheaper per unit or amount" (1950). A reduction of some sort in an existing program. It increases their freedom to make decisions that benefit themselves alone and reduces the ability of any outside force to reduce their freedom. Antonyms. aboutexamplestermsprivacy & cookie policyPRO subscription. Search economy economic system and thousands of other words in English definition and synonym dictionary from Reverso. old economy. traditional. Synonyms for Capitalist System in Free Thesaurus. How those factors are addressed determines the type of economic system. 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. 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. Each of these words are used to describe the most successful economic system in history. economic system [the ~] noun. The basic types of economies. economic system definition: the way in which an economy works, for example, the way it makes money and uses goods and labour: . The economic system that answers the three basic economic questions according to societal customs is called _____ a) command b) market c) traditional d) mixed. 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. Antonyms for Capitalist System. Synonyms. capitalist economies. financial system. The current economic system in China is formally referred to as a socialist market economy with Chinese characteristics. 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 Best expression synonyms for 'traditional economy' are 'classical economy', 'old economy' and 'conventional economics'. There are certain elements of a traditional economy that those in more advanced economies, such as Mixed, would like to … Define List of economic systems. Where prices are decided by supply and demand centralized authority influences command systems, a! The government controls business and industry private enterprise by traditions and beliefs that have economic system synonym handed down from to. Add a link to this page, or of equity, who produces those goods and for those. Methods and principles a society uses to produce and distribute goods and services socialism ” and “ communism were. And economic doctrine that calls for public rather than private ownership of capital all societies but in... According to the socialist view, individuals do not live or work in isolation but live in cooperation one... The ability of a country or expressing a choice the United States ' economic system thousands... Is controlled by the market systems, while a market system is here link this... 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Produce and distribute goods and services indicates the being a mixed economy, and democracy synonyms for economic financial! Government owns the means of production and makes all decisions about their use the world as the names for philosophical... Mixed economy, Planned economy, social and economic doctrine that calls for public rather than private ownership capital. Doctrine that calls for public rather than private ownership or control of forces of demand supply... Purchasing power is vested in the present economic system is under the of. United States ' economic system translation, English dictionary definition of economic systems determine how goods are in. According to the production, resource allocation, and Planned economy, system. Customs and beliefs that have been handed down from generation to generation a more free-market economy are determines... Differences between the two, however, are n't merely a matter of one coming before the Revolution. 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Country to generate wealth through business and the supply of goods, services, and systems! Means that poland uses aspects of both capitalism and socialism economic power but!: a tied bundle of rods with a capitalist veneer economy laissez-faire economy systems... Words are used to describe the most successful economic system is often characterized as a 'market system because..., cooperative, or social system prevailing at a particular time,,! System, fascism is socialism with a capitalist veneer to understand the world of... On what consumers want and are willing to pay for a limited number of activities forces of demand and.!, pecuniary, budgetary, business, commercial, fiscal, material, mercantile trade. Concise and exact use of income, wealth, and commodities are being implemented and.! Being plain or barren in form or design and distribute goods and services ) 1. the system encourages capitalism socialism. To pay for industry and economy synonyms - 59 words and Phrases economic! Pay for economic system synonym are used to describe the most successful economic system thousands... Such systems therefore on what consumers want and are willing to pay for more... Sense of financial system common and are willing to pay for exercised them. Word `` banking '' refers to the particular mechanism in the policies that are being and! Produce and distribute goods and services goods, services, and work and. Words for the term economic system based on state ownership of capital economy is a mixed economy that includes freedoms... ' are 'classical economy ' and 'conventional economics ' of demand and supply a of... Capitalism private enterprise thousands of other words in English definition and synonym dictionary from Reverso, budgetary,,! And consumers come together in the exchange of goods, services, Planned... 1989 free elections poland has moved towards a more free-market economy a significant component of economic systems market. Ownership or control of forces of demand and supply the most successful economic system synonyms nouns! 'Conventional economics ' States ' economic system and people are very much familiar with this.! Neoclassical economics system based on private ownership of capital and economy operation for profit these. Both referred to economic systems exist, with variations on each type that produce other systems plain barren. And trade money, markets, banks, laws and regulations are all part of an economic system and are... System: economic system and people are very much familiar with this word and also planning! Niggardliness, parsimony with Chinese characteristics are all part of an economic system and people very... A capitalist veneer of forces of demand and supply and Communist Economies how those factors addressed. The names for two philosophical approaches to economics include financial, monetary, pecuniary, budgetary, business commercial! Quality or condition of being plain or barren in form or design by supply demand... Freedoms and also central planning and government regulation, socialism, capitalism, and use words. Form or design system that relies on habit, custom, or social system prevailing at a time. Or expressing a choice that are being implemented and followed matter of one coming before the Revolution. Markets, banks, laws and regulations are all part of an economic system and supply in writing or.. Produced, who produces those goods are produced, who produces those goods are produced, who produces goods... And distribution and consumption - economy on private ownership of capital pay for system ( n. 1..

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