what is the basis for classification of economic system ?
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The economic systems are broadly classified into three categories: (1) Capitalist, (2) Socialist, and (3) Mixed. A better classification, however, may be made using the criteria of property ownership type and mode of resource allocation and governmental control.
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The economic systems are broadly classified into three categories: (1) Capitalist, (2) Socialist, and (3) Mixed. A better classification, however, may be made using the criteria of property ownership type and mode of resource allocation and governmental control.
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