Mutualism

Definition

Mutualism in the context of economic systems is a cooperative relationship between two agents where both benefit economically from their interaction. It helps in creating a balanced and sustainable economic environment by promoting synergistic partnerships.

Related terms

Synergy: The interaction of multiple elements in a system to produce an effect different from or greater than the sum of their individual effects.

Sustainable Development: Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Economic Interdependence: A condition wherein economies or economic actors are mutually reliant on each other, often characterized by reciprocal trade agreements and partnerships