what is an economic system ? A n economic system is an organized way in which a country allocates resources and distributes goods and services across the whole nation. The term economic system may also apply to a specific region it includes the combination of several institutions entities agencies decision-making processes and patterns of consumption that all make up the economic structure of a specific community. Hence it is a type of social system defining the economic system of a nation today is much more complicated than it was in the past ancient economic systems were relatively simple before money existed people traded in goods and there was a barter system in ancient systems there were relatively few treaties & rules of engagement every economic system focuses on the supply of goods and services and demand the supply side has three factors labor land and capital economic systems define how goods and services are produced how they are distributed and at what price the...
We believe powerful learning is immersive, personalized and social. Our mission is to create meaningful learning experiences and to promote sharing and collaboration amongst learners and teachers.