Question

briefly describe the term economic system​

Answer 1

Answer:

An economic system is a system of production, resource allocation, exchange and distribution of goods and services in a society or a given geographic area.

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Answer 2

Answer:

an economic system is a system of production, resource allocation, exchange and distribution of goods and services in a society or a given geographical area

• capitalism is a system in which private individuals or buisnesses own capital goods.