An economic system

Economic System - a combination of all the economic processes taking place in society on the basis of prevailing in its property relations and the economic mechanism. In any economic system, the primary role played by manufacturing in conjunction with the distribution, exchange and consumption. All economic systems are required for the production of economic resources, and results of operations are distributed, exchanged and consumed. At the same time in the economic systems are also elements that distinguish them from each other: the socio-economic relations, organizational and legal forms of business, the economic mechanism, the system of incentives and motivations of participants; economic ties between enterprises and organizations.