King George III was the King of Great Britian and Ireland during the American Revoltion. In 1773, he passed a tax on tea in the colonies. The Americans complied about “taxations without representation”. King George III led the British in the fight for American independence.
Answer: The way scarce resources get distributed within an economy determines the type of economic system. There are four different types of economies; a traditional economy, a market economy, command economy, and a mixed economy. Each type of economy has its own strengths and weaknesses.
