Economic system: The organization of production, distribution, and consumption within a group, society, or political state.

Resources for this term:
Comparing Economic Systems
Comparing Economic Systems

*EXEMPLAR MODULE* Every society operates with a mixed economic system, combining the influences of market and command models in order to form a functioning economy and government. Individual countries have unique combinations of the market and command influences depending on how countries prioritize different economic goals. Students will learn the characteristics of the market and command systems and evaluate the benefits and consequences of each system.

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