Meaning of “economic model” in the English Dictionary

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"economic model" in Business English

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economic modelnoun [ C ]


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)