For ease of computation, this same sign method actually estimates the set of x values, [xL, xU], corresponding to the linear range. This set of x values will be called the linear domain.
monetary system noun [C]. âº the âsystem used by a âcountry to âprovide âmoney and to âcontrol the âexchange of âmoney. (Definition of monetary system from the Cambridge Advanced Learners Dictionary & Thesaurus Â© Cambridge University Press).
Definition. An economic system refers to the way in which the resources of a country are used to produce goods and services, and the manner in which these goods and services are distributed for consumption. Definition.Economic systems are characterised by the following: - role of government.eatures: - Economic decisions are taken by the price mechanism system and also by the state. - The private business sector operates along the lines of the free market economy, where the price mechanism determines allocation of resources.