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 sides, expressing confidence regarding successful development of traditional relations between Azerbaijan and the WEF, exchanged views on the role of the country in the global economy system and other issues of mutual interest.
It should also focus on the following: actively implementing an import promotion strategy; increasing technology, commodities and service imports; promoting economic structural optimization; implementing a strategy of rejuvenating trade through science and technology and a strategy of achieving success on the strength of quality; expanding exports of technology-intensive and capital-intensive mechanical products, high-tech and high added-value and environment-friendly products; improving international trade competitiveness; and carrying out the "One Belt, One Road" strategy to build an open economy system.
Odyssey looks to simplify payment solutions, build a revolutionary sharing economy system and we are excited to deliver this starting from this program.
Rezaul Islam Litan laid special emphasis on flourishing female entrepreneurship in the local SME sector and production of international standard SME products to enhance export by facing challenges of global free trade economy system.
Speaking about the procedures for facilitating investment, the minister said that the policies of stimulating investments help promote economic developments in countries and support their ability to export and integrate into global value chains and connect to the digital economy system. He said that since Qatar is a member of Friends of Investment Facilitation for Development (FIFD), he encouraged holding organised discussions on the facilitation of investment in the WTO.
He reiterated that JI would bring an end to corruption and protocol culture and would replace the interest based economy system with promoting Zakat and Usher system to alleviate poverty and bring economic stability in the country.
He reiterated that JI would replace the interest-based economy system with Zakat and Usher system to alleviate poverty and bring economic stability in the country.
Summary: The school has a unique life skills programme and classroom economy system, where students have jobs and receive salaries in 'NGS' currencies.
He noted that among the objectives of DIEDC's updated strategy for 2017-2021 are consolidating Dubai's status as the global capital of Islamic economy through boosting the sector's contribution to the GDP, increasing the share of Halal products in the country's trade, and collaborating with international markets to grow the Islamic economy system worldwide.
The long-term planned economy system on deep in China's state-owned non-profit hospital brand, hospitals in China at this stage of the personnel department is only an administrative services department, the work is often limited to the job transfer, attendance, wages approval, and the development of non-intelligence staff resources, which can provide quality the human resources of products and services for the hospital.
He called on the Lebanese people and their political leaders and religious authorities to be wary of the "real dimensions" behind targeting Lebanon in the heart of its capital and "targeting its distinguished and competitive banking system which has stood fast despite [Israeli] wars, invasions and Israeli attempts to match our experience and our free economy system."
The general secretariat of ECCAS initiated green economy in 2010 under the framework of the Green Economy System of Central Africa (SEVAC) which was finally adopted in 2012 by the ECCAS ministers in charge of forest economy, natural resources and sustainable development.