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2-1 economic systems

economics

QuestionAnswer
An organized way of providing for the wants and needs of people economy/economic system
An economy in which the allocation of resources and nearly all other economic activity stems from ritual, habit, or custom traditional economy
An economy in which a central authority makes most of the WHAT, HOW, and FOR WHOM decisions command economy
n economy in which people and firms act in their own best interests to answer the WHAT, HOW, and FOR WHOM questions Market economy
Created by: gp0227
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