Show Recommended textbook solutions Principles of Economics2nd EditionDavid Shapiro, Steven Greenlaw Principles of Macroeconomics6th EditionN. Gregory Mankiw 433 solutions Microeconomics3rd EditionPaul Krugman, Robin Wells 312 solutions Principles of Macroeconomics5th EditionBen Bernanke, Robert Frank 443 solutions What describes how a particular society distributes its resources to produce goods and services?Chapter 1 - Term Review. What is the method used by a society to produce and distribute goods and services?An economic system is the method used by a society to produce and distribute goods and services.
What is the system of producing and distributing goods?An economic system, or economic order, is a system of production, resource allocation and distribution of goods and services within a society or a given geographic area.
How will goods and services be produced?Factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
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How a particular society distributes its resources to produce goods and services describes an
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