individual ownership system; system of ownership by individual laborers
Tone colorsmāmámǎmàma
Meanings
1 sense · 3 examplesnoun
a system in which the means of production and products are owned by individual laborers
formalAn economic system where a single person or household owns and operates a small enterprise without employing wage labor. Contrasts with collective or state ownership.
Zài在
gǎi改
gé革
kāi开
fàng放
chū初
qī期
，
gè个
tǐ体
suǒ所
yǒu有
zhì制
jīng经
jì济
dé得
dào到
le了
xùn迅
sù速
fā发
zhǎn展
。
In the early stages of reform and opening up, the individual ownership economy developed rapidly.
Zhè这
jiā家
xiǎo小
diàn店
shǔ属
yú于
gè个
tǐ体
suǒ所
yǒu有
zhì制
，
yóu由
diàn店
zhǔ主
yī一
jiā家
rén人
jīng经
yíng营
。
This small shop operates under individual ownership and is run by the owner's family.
Show 1 more exampleShow fewer examples
Gè个
tǐ体
suǒ所
yǒu有
zhì制
shì是
shì市
chǎng场
jīng经
jì济
de的
zhòng重
yào要
zǔ组
chéng成
bù部
fèn分
。
Individual ownership is an important component of the market economy.