Economic Systems
Economic Systems. Countries must decide how to distribute its resources to meet the needs of its people. Countries do this through an economic system.
ECONOMICS Chapter 1 What is Economics?. Section 1: An Economic Way of thinking. Objectives: What is economics? What are the factors of production?
An economic system describes how a country’s economy is organized Because of the problem of scarcity, every country needs a system to determine how to.
Economic Systems. The purpose of economics The purpose of economics Economics seeks to answer the basic question of how to deal with SCARCITY.
Introduction to Economics
Economic Systems. Why do we have Economic Systems? Survival for any society depends on its ability to provide food, clothing, and shelter for its people.
Economic Systems UNIT TEN NOTES. Economic Systems An economic system describes how a country’s economy is organized Because of the problem of scarcity,
