An economic system is: a mechanism to allocate scarce resources.
What is this country's economic system?
- Economics is the method or framework used to create, market, and purchase products and services in a nation or region. The conflict had an impact on the economy.
- An economic system is a mechanism used by societies or governments to coordinate and distribute resources, services, and goods throughout territory or nation.
- A society uses an economic system to produce and distribute goods and services in accordance with its objectives and core values.
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