The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
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.
traditional economic system command economic system market economic system
traditional economic system command economic system market economic system
Conservation
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
The four functions of economic systems; Production, Allocation, Distribution and Regeneration.
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.
Economic System
petroleum and natural gas.
traditional economic system command economic system market economic system
traditional economic system command economic system market economic system
Conservation
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
There are 3 main economics for economic system which are given below: 1.) Capitalism economic system 2.) Socialism economic system 3.) Mixed economic system .
economic,social and managerial
laissez faire
laissez faire