economic system

An economic system is a particular set of social institutions which deals with the production, distribution and consumption of goods and services in a particular society. The economic system is composed of people and institutions, including their relationships to productive resources, such as through the convention of property. It addresses the problems of economics, such as the allocation of scarce resources in a given economy. Examples of contemporary economic systems include capitalist systems, socialist systems, and mixed economies. Economic systems is the category of economics that includes the study of respective systems.
See more at Wikipedia.org...

Noun
1. the system of production and distribution and consumption
(synonym) economy
(hypernym) system, scheme
(hyponym) industrialism
(part-meronym) sector

n. ระบบเศรษฐกิจ