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Class 12 economics notes

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Etontmic stem referg to 'eco nomic
AS
economy
order' in the Country. it encompass Sustemof distribution
phoducion, distnibution of resources. b tne nau peopie get reword
allocaion of resourtes their actor seruicRS.

Sy6tem of production. - there are three tupes of ecomic Sustem:
ne mean the NOu g00d and 5 cahitulist eomag Cprotit mari)
Services are produced in eco 4 hocialit ecooUg (social lfare
-nomy riyed ecoNoNy (botn)
S451er cf resource alloc0tion
b we mean'what qoods and tnpitalisttenemit
Services ore produced in the L the one in whicn means of producio

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July 21, 2024
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Noor
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Class 12

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