Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “economic model”

economic model

noun [C]
 
 
ECONOMICS
one particular way of organizing an economy: Going forward, the American economic model should not be abandoned, as some advocate.
a theory used for calculating the effect of something on an economy: Ernst & Young's ITEM Club, which uses the Treasury's economic model, says UK GDP will grow by 3.5% this year.
(Definition of economic model from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of economic model?
Add Cambridge dictionaries to your browser to your website

Word of the Day

fairy

an imaginary creature with magic powers, usually represented as a very small person with wings

Word of the Day

What’s that lovely smell?

by Kate Woodford​,
October 29, 2014
As adult humans, we can distinguish about 10,000 different smells. It’s no wonder, then, that we have so many words and expressions to describe them. This week we’re taking a look at those smell words – words that describe good smells and words that describe bad smells. Most smell words are either

Read More 

high-frequency trading noun

October 27, 2014
a type of stock market trading that uses very complex technology to trade extremely quickly, often making tiny profits which nevertheless add up to substantial sums Lewis’s book, Flash Boys, is driving a huge amount of attention toward the topic of high frequency trading, and it has rekindled some of

Read More