economic structure JUST WRITTEN FOR YOU
/ˌɛkəˈnɒmɪk ˈstrʌktʃər/ · e·co·nom·ic struc·ture
noun
- The organization and interrelations of various sectors within an economy, including the distribution of resources and the flow of goods and services. The country's economic structure is primarily based on service industries, with a strong focus on technology and finance.
Synonyms
Did you know? The concept of economic structure is crucial in understanding the dynamics of economic growth and development, as it helps policymakers identify areas of strength and weakness in an economy. The study of economic structure has been a key focus of economists such as Joseph Schumpeter and John Maynard Keynes.