Ask Question
31 March, 19:01

An economic system:

A. requires a grouping of private markets linked to one another.

B. is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem.

C. requires some sort of centralized authority (such as government) to coordinate economic activity.

D. is a plan or scheme that allows a firm to make money at some other firm's expense.

+1
Answers (1)
  1. 31 March, 21:52
    0
    B. is a particular set of institutional arrangements and a coordinating mechanism used to respond to the economizing problem.

    Explanation:

    Economic system -

    It is the system that is responsible for the resource allocation, production and the distribution of the services and goods, is known as an Economic system.

    Economic system includes - the institutions of decision-making, agencies.

    It works to deal with the problem related to the economy of a country or society.

    Hence, the correct option is (b).
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An economic system: A. requires a grouping of private markets linked to one another. B. is a particular set of institutional arrangements ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers