The system of production and distribution and consumption is one of many definitions for which term?

2 answers:

7 0

The Economy is the best answer here. The other terms listed are all different models that drive different forms of Economic and political systems.

BaLLatris [955]3 years ago

6 0

The system of production and distribution and consumption is one of many definitions for the term economy. Economy denotes a system used to manage limited resources for the production, distribution, and consumption of goods and services.

Free Enterprise on the other hand is an economic system in which the means of production are mostly privately owned and operated for profit.

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