What is another word for participatory economy?
Pronunciation: [pɑːtˈɪsɪpətəɹˌi ɪkˈɒnəmi] (IPA) 
Participatory economy refers to an economic system that is directed and managed by its participants, with a primary goal of meeting the needs of the community as opposed to profit-making. There are numerous synonyms to express this concept, including cooperative economy, democratic economy, collaborative economy, and community-based economy. These terms signify the involvement of stakeholders in the decision-making processes and the distribution of resources. A participatory economy aims at promoting the well-being of all members of a community, and ensuring equitable access to resources. It is an alternative economic model that differs from traditional capitalist models that prioritize profit over human needs, and therefore, it has gained increasing recognition in recent times.
