There are several different economic systems, but they all allocate resources in fundamentally the same way.

Question

Quizplus · Accepted Answer

While all economic systems involve the allocation of resources, they differ in how they allocate those resources. For example, a market economy relies on the interaction of supply and demand to determine prices and allocate resources, while a command economy has a central authority making those decisions. Similarly, a mixed economy combines elements of both systems.

There Are Several Different Economic Systems, but They All Allocate