Economics Paper explain briefly the three major economic systems operating in the global economic system and demonstrating
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Economics Paper
- explain briefly the three major economic systems operating in the global economic system and demonstrating how each of the five factors of production relates to each of the economic systems. Ensure the following points are addressed.
- The three primary economic systems must be defined.
- The differences between the three economic systems must be identified.
- The five factors of production: labor, capital, entrepreneurship, physical resources, and information resources must be defined with examples.
- How the five factors of production relate to each of the economic systems must be explained.
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ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
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