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economic system

Definition of Economic System

(noun) How goods and services are provided within a society to meet needs and wants.

Example of Economic System

Types of Economic System

Economic System Pronunciation

Pronunciation Usage Guide

Syllabification: ec·o·nom·ic sys·tem

Audio Pronunciation

– American English
– British English

Phonetic Spelling

  • American English – /ek-uh-nAHm-ik sIs-tuhm/
  • British English – /e-kuh-nOm-ik sIs-tim/

International Phonetic Alphabet

  • American English – /ˌɛkəˈnɑmɪk ˈsɪstəm/
  • British English – /ˌiːkəˈnɒmɪk ˈsɪstɪm/

Usage Note

  • Plural: economic systems

Related Quotations

Related Video

Additional Information

Related Terms:


Bowles, Samuel, and Herbert Gintis. [2011] 1976. Schooling in Capitalist America. London: Routledge & Paul Kegan.

Macionis, John, and Kenneth Plummer. 2012. Sociology: A Global Introduction. 4th ed. Harlow, England: Pearson Education.

Works Consulted

Ferrante, Joan. 2011. Seeing Sociology: An Introduction. Belmont, CA: Wadsworth.

Scott, John, and Gordon Marshall. 2005. A Dictionary of Sociology. New York: Oxford University Press.

Thompson, William E., and Joseph V. Hickey. 2012. Society in Focus: An Introduction to Sociology. 7th ed. Boston: Allyn & Bacon.

Turner, Bryan S., ed. 2006. The Cambridge Dictionary of Sociology. Cambridge: Cambridge University Press.

Wikipedia contributors. (N.d.) Wikipedia, The Free Encyclopedia. Wikimedia Foundation. (https://en.wikipedia.org/).

Wikipedia contributors. (N.d.) Wiktionary, The Free Dictionary. Wikimedia Foundation. (http://en.wiktionary.org).

Cite the Definition of Economic System

ASA – American Sociological Association (5th edition)

Bell, Kenton, ed. 2014. “economic system.” In Open Education Sociology Dictionary. Retrieved May 23, 2024 (https://sociologydictionary.org/economic-system/).

APA – American Psychological Association (6th edition)

economic system. (2014). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from https://sociologydictionary.org/economic-system/

Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)

Bell, Kenton, ed. 2014. “economic system.” In Open Education Sociology Dictionary. Accessed May 23, 2024. https://sociologydictionary.org/economic-system/.

MLA – Modern Language Association (7th edition)

“economic system.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2014. Web. 23 May. 2024. <https://sociologydictionary.org/economic-system/>.