Economic System in a Sentence  ðŸ”Š

Definition of Economic System

a system of production, resource allocation, and goods distribution in a society

Examples of Economic System in a sentence

The economic system of a country includes its acquisition of resources and how those resources are distributed among the people of the nation.  ðŸ”Š

In a dictatorship, the economic system of the country is completely controlled by the government, determining who gets what goods and resources at all times.  ðŸ”Š

In a free market society, the economic system allows everyone to procure their own resources, and distribute the goods they make to people for personal profit.  ðŸ”Š

Every advanced country has an economic system of some sort in which resources are gathered in a certain manner and distributed by those who acquire them.  ðŸ”Š

Thanks to the economic system of free enterprise societies, business owners are free to make their own goods and sell them to whoever they wish.  ðŸ”Š

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