economic system

An organized way in which a state or nation allocates its resources and apportions goods and services in the national community.

Learn more about this term

Usage Example

An economic system consists of various processes related to labor, production, distribution and circulation of goods and services.

Friday Quiz Challenge
Test your knowledge of this week's terms

Question:	End goals of this include ensuring employee satisfaction and making a company more efficient.
Choose the Right Answer:	(A) trustee (B) marginal cost (C) white collar (D) kaizen

Featured Article

The Life and Times of the Legendary Steve Jobs

Apple CEO Steve Jobs has resigned, handing the reins of the company he co-founded over to his long-time right hand man, Tim Cook. At his retirement, Apple had...

Read this article

	Voice Your Opinion
What's something money can't buy?

Lauren Ryan is an American artist that creates incredibly lifelike animals out of nothing more than pipe cleaners. A pipe cleaner or chenille stem is a type of brush originally intended for removing moisture and residue from smoking pipes. While they have many practical applications, they are also very popular for use in arts and crafts.

Ryan has taken their artistic usage to new levels with her amazingly detailed and lifelike sculptures. You can find many more on her blogChenille Stems.

When not sculpting, Ryan also does colored pencil drawings, which you can find on her other blog, Anima-Life.

If you like what you see, Lauren is available for commissions. You can find contact information on her deviantART profile.

[via thegrapemind]