Economic systems differ from one another based on who owns the factors of production and. <u>Who make decisions regarding what to produce and how it is produced</u>
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<h3>What is Economic systems?</h3>
An economic system is a mechanism by which societies or governments manage and distribute public resources, services, and goods across a geographic region or nation. Economic systems control the factors of display, including land, capital, labor, and material resources.
<h3>What is represented by economic system?</h3>
An economic system is a means with the help of which the government plans and issues accessible services, resources, and things across the country. Economic systems manage aspects of production, combining wealth, labour, physical resources, and industry people.
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Complete Question is,
A. How much resources are available in the economy and where they are located
B. Who make decisions regarding what to produce and how it is produced
C. What kinds of products are produced in the economy and how plentiful they are
D. How big the population is, and the makeup of the population
