economic system

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economic system

a mechanism for tackling the twin problems of SCARCITY and CHOICE. Because economic resources are limited relative to society's demand for goods and services, some means of allocating resources between alternative ends is required. In the modem world, three basic allocative mechanisms perform this function: PRIVATE ENTERPRISE ECONOMY, in which resources are allocated through markets; CENTRALLY PLANNED ECONOMY, in which resources are all allocated by the state; MIXED ECONOMY, in which resources are allocated both by the market and by the state. See NATIONALIZATION, PRIVATIZATION.
References in periodicals archive ?
The Monetary Economy Sistem (MES) affects the path of the Real Economy System (RES).
Not only because Cambodia has practiced free market economy system but also because investors find it easier to deal with property transactions and investment procedure in Cambodia than some other ASEAN countries.
It's sure a blessing to be a strong hydrocarbon economy in this energy-dependent age of human development but the highly speculative market economy system is always there to spring unpleasant surprises consigning the best of the economic estimates to the trash bin.
The second volume covers China and the world in the context of economic globalization, financial globalization and reform, development plans under the Chinese socialist market economy system, deflation, stock markets, developing China's money markets, reforming commercial banks, developing rural finance, venture capital, and transforming bonded zones into free trade zones, while the third addresses the scientific outlook on development, the construction of an innovation-oriented country, institutional innovation, venture capital investment, economic challenges and countermeasures, development of the stock market, reform of the Renminbi exchange rate regime, and the global financial crisis and China's countermeasures.
The importance of the Islamic Economy Award has its roots in the integrated Islamic Economy system which cuts across many economic sectors including infrastructure, tourism, health, food, art and banking services," said Majid Al Shamsi, 1st Vice-Chairman, Dubai Chamber.
The system, which has been functioning since 2012, is a gigantic market economy system that relied on the state-generated earnings.
First, it should be mentioned not only the mutual challenge by the two major branches of neo-classical thinking: Keynesianism and libertarianism their ability to provide solutions for the problems generated by the market economy system in operation, but also recognition, by each of them, of their own incapacity.
Since its implementation in 2005, the Georgia Department of Juvenile Justice's (DJJ) Behavior Management System had been employing a token economy system using a point card that primarily focused on negative consequences with little or no positive reinforcement.
Another method is the "token economy system," in which students who behave appropriately or complete tasks are rewarded with tokens they can trade for prizes.
Wittmann Battenfeld also showed its W842 IML Economy system, designed for lower cost rather than highest speed in low-volume applications.
The report indicates that, even in the near term and without even taking excessively radical measures, using the circular economy system could increase the value recovered by 50% (Ellen MacArthur Foundation, 2013?