Economy systems

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  • Created by: Jess
  • Created on: 21-04-14 10:45

Economic system: the way in which production is organised in a country or a group of countries. How countries decide:

  • what goods and services are to be produced
  • how these goods and services are produced
  • who should receive these goods and services
  • Market economy: an economic system whereby resources are allocated through the market forces of demand and supply
  • Price system: a…


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