Economic system
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Economic system
An economic system is the structure of production, allocation of economic inputs, distribution of economic outputs, and consumption of goods and services in an economy. It is a set of institutions and their social relations. Alternatively, it is the set of principles and techniques by which problems of economics are addressed, such as the economic problem of scarcity through allocation of finite productive resources.[1]
An economic system is composed of people and institutions, including their relationships to productive resources, such as through the convention of property. Examples of contemporary economic systems include capitalist systems, socialist systems, and mixed economies. "Economic systems" is the economics category that includes the study of respective systems. Today the world largely operates under a global economic system based on the capitalist mode of production.
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An economic system is composed of people and institutions, including their relationships to productive resources, such as through the convention of property. Examples of contemporary economic systems include capitalist systems, socialist systems, and mixed economies. "Economic systems" is the economics category that includes the study of respective systems. Today the world largely operates under a global economic system based on the capitalist mode of production.
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msistarted- Number of posts : 551
Registration date : 2010-10-13
Re: Economic system
An economic system is composed of people and institutions, including their relationships to productive resources, such as through the convention of property. Examples of contemporary economic systems include capitalist systems, socialist systems, and mixed economies. "Economic systems" is the economics category that includes the study of respective systems. Today the world largely operates under a global economic system based on the capitalist mode of production.
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Norelco 1290X
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heroisthai- Number of posts : 169
Registration date : 2010-11-26
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