How do the economic system answer the economic problem?

This is because in a capitalist economy (or market economy), the amount of goods produced depend on the demand and the supply for that good in the market while price acts as an incentive and a...

i dun no.... i want to find it. but.... i dun get it..

Oil-rich Nigeria, long hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management, is undertaking some reforms under a new reforms-minded...

1. How to allocate scarce resources among unlimited wants and 2. how to decide what to produce, how to produce, and for whom to produce.

There are 3 main economics for economic system which are given below: 1.) Capitalism economic system 2.) Socialism economic system 3.) Mixed economic system .