English / word
economic system
noun B2MEANING IN ENGLISH
The institutional structure governing the production, allocation, and consumption of goods and resources.
In context
01
Every modern nation strives to establish a resilient and equitable economic system.
02
Capitalism, socialism, and mixed economies are types of economic systems.
Synonyms
economic structure,financial system,political economy
Antonyms
economic collapse,economic anarchy
Collocations
global economic system,planned economic system,reform the economic system