Economic Systems

An economic system is a framework used to determine on behalf of the country, what goods and services are being produced, how they are being produced, and for whom they being produced for or monitoring of the distribution channels (Tucker, 2011).
There are several modern economic systems, for example market economy which use prices determined by market forces of supply and demand to control the economy (Tucker, 2011). This system encourage globalization by corporate in the economy, the organizations are not bound by any external environmental force in its endeavors, only the…..

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