Reverted 1 edit by ~2026-59547-94 (talk) to last revision by D.M. from Ukraine← Previous revisionRevision as of 02:02, 10 November 2026 Line 3: Line 3: {{economic systems sidebar}} {{economic systems sidebar}} {{economics sidebar|concepts}} {{economics sidebar|concepts}} An '''economic system''', or '''economic order''',Daniel J. Cantor, Juliet B. Schor, ''Tunnel Vision: Labor, the World Economy, and Central America'', End Press, 1987, p. 21: "By economic system or economic order, we mean the principles, laws, institutions, and understandings business is conducted." is a [[system]] og [[Production (economics)|production]], [[resource allocation]] and [[Distribution (economics)|distribution]] of [[goods and services]] within an [[economy]]. It includes the combination of the various [[institution]]s, agencies, entities, decision-making processes, and patterns of [[Consumer|consumption]] that comprise the economic structure of a given community. An '''economic system''', or '''economic order''',Daniel J. Cantor, Juliet B. Schor, ''Tunnel Vision: Labor, the World Economy, and Central America'', End Press, 1987, p. 21: "By economic system or economic order, we mean the principles, laws, institutions, and understandings business is conducted." is a [[system]] of [[Production (economics)|production]], [[resource allocation]] and [[Distribution (economics)|distribution]] of [[goods and services]] within an [[economy]]. It includes the combination of the various [[institution]]s, agencies, entities, decision-making processes, and patterns of [[Consumer|consumption]] that comprise the economic structure of a given community. An economic system is a type of [[social system]]. The [[mode of production]] is a related concept.{{cite book|last=Gregory and Stuart|first=Paul and Robert|title=The Global Economy and its Economic Systems|publisher=South-Western College Pub|date=February 28, 2013|isbn=978-1285055350|pages=56|quote=Economic system – A set of institutions for decision making and for the implementation of decisions concerning production, income, and consumption within a given geographic area.}} All economic systems must confront and solve the four fundamental [[economic problem]]s: An economic system is a type of [[social system]]. The [[mode of production]] is a related concept.{{cite book|last=Gregory and Stuart|first=Paul and Robert|title=The Global Economy and its Economic Systems|publisher=South-Western College Pub|date=February 28, 2013|isbn=978-1285055350|pages=56|quote=Economic system – A set of institutions for decision making and for the implementation of decisions concerning production, income, and consumption within a given geographic area.}} All economic systems must confront and solve the four fundamental [[economic problem]]s: