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ⓘ Economic system. An economic system is a man-made and malleable system to regulate the production, resource allocation, exchange, and distribution of goods and ..




                                               

Ministry of Economic Development, Trade and Agriculture of Ukraine

Ministry of Economic Development, Trade and Agriculture of Ukraine - ministry, central executive body of Ukraine. Ministry of Economic Development, Trade and Agriculture of Ukraine - a new name, which was given on August 29, 2019 to the Ministry of Economic Development and Trade of Ukraine. Forms and implements state policy in the fields of economy, trade and agriculture. It is also responsible for the implementation of state policy on business development, regulation of pricing policy except for registration of legal entities and individuals - entrepreneurs, public procurement, tourism an ...

Economic system
                                     

ⓘ Economic system

An economic system is a man-made and malleable system to regulate the production, resource allocation, exchange, and distribution of goods and services in a society or a geographic area.

Trade, money, markets, banks, laws and regulations are all part of an economic system. Examples of economic systems include:

  • Market economy, where prices are decided by supply and demand.
  • State capitalism, where the means of production are organized and managed as state-owned business enterprises, and wages are decided by the government.