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economic system

/ˌekəˈnɒmɪk ˈsɪstəm/

1 entry

phrase

/ˌekəˈnɒmɪk ˈsɪstəm/B2formalbusiness
  • ruСтруктурированный способ, которым общество организует производство, распределение и потребление товаров и услуг, включая правила, институты и отношения, регулирующие экономическую деятельность.

The structured way in which a society organizes the production, distribution, and consumption of goods and services, including the rules, institutions, and relationships that govern economic activity.

  1. Definition of an economic systemB2formal

    The structure and methods by which a society organizes the production, distribution, and consumption of goods and services.

    ruОпределение экономической системы

    • Capitalism is an economic system based on private ownership and free markets.
    • A command economy is an economic system where the government controls production and prices.
    • The country is transitioning from a traditional to a modern economic system.