2.11.1 Definition of the mixed economic system
Unit 2.11.1 - Definition of the mixed economic systemThis section of the Cambridge IGCSE Economics (0455) syllabus requires students to be able to define the mixed economic system.An economic system refers to the institutions and mechanisms that determine how an economy"s resources are allocated in order to address the basic economic questions of what, how, and for whom production should take place. Hence, these institutions...
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