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The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
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What are the Functions of economic system?
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
What are the factors of production in an economic system?
The factors of production in an economic system describe functions the resources do. Economic resources are labor, land, enterprise, and capital.The government controls the factors of production in each economic system.
Which cultural term refers to the rules that govern the functions of institutions organizations and interest groups?
Economic System
What resources in Saudi Arabia functions mainly under the command economic system?
petroleum and natural gas.
What are the different economic system?
traditional economic system command economic system market economic system
What are the three different economic system?
traditional economic system command economic system market economic system
In the system workers are most productive and Nations economies functions most effectively when people and businesses can pursue their economic interest privately?
Conservation
What is the main functions of Money in economic system?
Money is often defined in terms of the three functions or services that it provides. Money serves:1. As a medium of exchange2. As a store of value, and3. As a unit of account
What are three main economics for economic system?
There are 3 main economics for economic system which are given below: 1.) Capitalism economic system 2.) Socialism economic system 3.) Mixed economic system .
Why is it that there is no ideal economic system?
no ideal economic system
What the economic system vs political system?
What the Economic system v. political system
In this system workers are most productive and a nation's economy functions most efficiently when people and businesses can pursue their economic interests privately?
laissez faire
