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What three broad categories do economist use to classify all economic systems?
Wiki User
∙ 14y ago
Economic system is some sort of arrangements regarding the production of goods and services to satisfy human wants and needs.
Economist deals with three questions to classify all economic system,which are:
*What to produce?
*How to produce?
*For whom to produce?
By answering these three questions economists make any economic decision.
Wiki User
∙ 14y ago
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