Question

"An economy can be considered as a cooperation among producers and as a system of mutual exchange".explain

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Answer 1

• Economy can be seen as a system of mutual cooperation and exchanges. Economy gives much importance to individual freedom and competition. Economic growth refers to short-run improvements in a few selected sectors.

Answer 2

Explanation:

Meaning Of Economic Exchang :-

An exchange is a marketplace where securities, commodities, derivatives and other financial instruments are traded. The core function of an exchange is to ensure fair and orderly trading and the efficient dissemination of price information for any securities trading on that exchange.

System Of Mutual Exchange:-

The cooperation can be seen across national boundaries. Thus economy can be seen as a system of mutual cooperation and exchanges. ownership and control over means of production.

Example :-

An example of to exchange is to gift Christmas gifts at the company office party. An example of to exchange is to trade vegetables from your garden for cookies with your neighbor.