Question

how can an economy be classified on production bases​

Answer 1

Answer:

Explanation:

Classification of economic sectors on the basis of economic of activities are as follows : (i) Primary sector : When we produce goods by exploiting natural resources, it is an activity of the primary sector, such as agriculture, dairy farming, fishing, forestry.

Answer 2

An economy be classified on production bases​ as capitalist, socialist and mixed economies.

Explanation:

• The capitalist economy refers to the economy where private ownership is land, and capital and no kind of interference from the government. Ex of the USA.

• A socialist economy refers to the economy where the economic activities are controlled and regulated by the government or community in order to ensure welfare and equal opportunities. Ex of Russia.

• A mixed economy is where the important production is undertaking by the government and the rest is left to private. Ex of china.

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• brainly.in/question/18211479 answered by anithamanu4.