Question

what is economics and its characteris
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Answer 1

ans=    Two such types, socialism and capitalism are the most common. Capitalism is often referred to as a free market economy in its purest form; a common type of socialism is communism. Embedded in these economic systems are political and social elements that influence the degree of purity of each system.

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Answer 2

Economics is the social science that studies the production, distribution and consumption of goods and services