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Sunday, September 5, 2010
What is economic system? Explain various typesof economic system.
Organized way in which a state or nation allocates its resources and apportions goods and services in the national community. Economic system appears in the definitions of the following terms: mixed economy, capitalism, metaproblem, laissez-faire economics, automatic fiscal stabilizers, economic dynamics, macroeconomics, business, success to the successful, international business
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