that part of the economy which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state.
the part of the economy that concerns itself with goods and services production, as ostensibly contrasted with the paper economy, or the financial side of the economy.
economic system 1
noundomain: group
Princeton WordNet [ver.3.1]
English
Definition
the system of production and distribution and consumption
that part of the economy which is run by private individuals or groups, usually as a means of enterprise for profit, and is not controlled by the state.
the part of the economy that concerns itself with goods and services production, as ostensibly contrasted with the paper economy, or the financial side of the economy.