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swat32
2 years ago
11

What is economic system ?​

Business
2 answers:
CaHeK987 [17]2 years ago
8 0

Answer:

An economic system, also known as an economic order, is a method of producing, allocating resources, and distributing products and services within a community or geographical region.

Countries and governments allocate resources and trade commodities and services through economic systems. They are used to manage the five components of production: labor, capital, entrepreneurs, physical assets, and information assets.

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joja [24]2 years ago
4 0

An Economic System, sometimes known as an <em>Economic Order</em>, is a system for producing, allocating resources, and distributing products and services within a community or geographical region. It is made up of the numerous organizations, agencies, entities, decision-making processes, and consumption patterns that make up a community's economic structure.

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Capital gains may be preferred by investors over dividends even if dividends and capital gains are taxed at the same rate becaus
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2 years ago
Thailand has a comparative advantage in rice and an absolute advantage in cell phones Indonesia has a comparative advantage in c
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d. Thailand should export rice and import cell phones

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