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town economy

noun
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Definition of town economy

: the stage or system in economic history in which the center of trade and commerce is a town (as a medieval walled town) with a distinct merchant class and considerable division of labor

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“Town economy.” The Merriam-Webster.com Dictionary, Merriam-Webster Inc., https://www.merriam-webster.com/dictionary/town%20economy. Accessed 14 December 2019.

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