Economic structures

Definition

Economic structures refer to the organization and functioning of economic activities within a society. They encompass factors such as production methods, distribution networks, market systems, labor relations, and wealth distribution patterns.

Related terms

Capitalism: An economic system based on private ownership of resources and the pursuit of profit through market competition.

Labor unions: Organizations formed by workers to protect their rights and advocate for better working conditions, wages, and benefits.

Income inequality: The unequal distribution of income within a society, often measured by the wealth gap between different social groups.