What is the best definition of an economic system? economy based on traditional production methods process by which people choose how to use limited resources in order to meet their needs government makes the best decisions

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What is the best definition of an economic system? economy based on traditional production methods process by which people choose how to use limited resources in order to meet their needs government makes the best decisions

The best definition of an economic system is the process by which people choose how to use limited resources in order to meet their needs.

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Asked 11/23/2015 10:31:18 AM

Updated 11/23/2015 10:45:04 AM

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Edited by jeifunk [11/23/2015 10:45:02 AM], Confirmed by jeifunk [11/23/2015 10:45:04 AM]

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Weegy: Physiocrat is one of a school of political economists who followed Quesnay in holding that an inherent natural order properly governed society, regarding land as the basis of wealth and taxation, and advocating a laissez-faire economy. (More)

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