An economic system allocates a nation's resources among its citizens.

Question

Quizplus · Accepted Answer

An economic system is a way of organizing the production and distribution of goods and services within a society or country. The system determines how resources are allocated, who owns and controls them, and how goods and services are produced and distributed. Therefore, an economic system plays a crucial role in determining how a nation's resources are allocated among its citizens.

An Economic System Allocates a Nation's Resources Among Its Citizens