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KATRIN_1 [288]
3 years ago
11

What are economic systems, and how do they differ?

History
1 answer:
Dafna11 [192]3 years ago
7 0

An economic system consists of the institutions and the method by which resources are allocated and products and services are distributed. Economic systems differ primarily in who owns the factors of production, how the allocation of resources is directed and the method used to direct economic activity.

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