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A state of equilibrium in the production of goods and services within the economic parameters in consumption,investments,savings and the forces of supply and demand for production.

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What is the mode of the production and the social formations?

The mode of production refers to the specific way in which goods and services are produced in a society, such as capitalism, socialism, or feudalism. Social formations refer to the social structures and relationships that exist within a society, shaped by the mode of production and influencing behaviors and beliefs. These concepts are interconnected, as the mode of production determines the economic base of society, which in turn influences the social formations that emerge.


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