explain the problems of market socialism
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An economic system is a system ofproduction, resource allocation, and distribution of goods and services within asociety or a given geographic area. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. As such, an economic system is a type ofsocial system. The mode of production is a related concept.All economic systems have three basic questions to ask: what to produce,how to produce and in what quantities, andwho receives the output of production.
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