Question

what is economic ? what are the various characters of economic system?
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Answer 1

Answer:

Each has its own distinguishing characteristics, although they all share some basic features. Each economy functions based on a unique set of conditions and assumptions. Economic systems can be categorized into four main types: traditional economies, command economies, mixed economies, and marketeconomies.

Explanation:

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Answer 2

Answer:

$\huge\purple {Economics \: is \: a \: social \: science\:</p><p> concerned \: with \: the \: production, \: distribution,</p><p>\: and \: consumption \: of \: goods \: and \: services. ...}$