Economic systems differ according to which two main characteristics?

A. Who owns the factors of production, and the methods used to coordinate economic activity.

B. The technology used in production, and the quantity and quality of natural resources.

C. How goods are produced, and who gets them.

D. The political system in place, and the degree of scarcity facing the economy.

Question

Sanai Davies

Business

21 November, 12:28

Economic systems differ according to which two main characteristics?

A. Who owns the factors of production, and the methods used to coordinate economic activity.

B. The technology used in production, and the quantity and quality of natural resources.

C. How goods are produced, and who gets them.

D. The political system in place, and the degree of scarcity facing the economy.

+1

Answers (1)

Know the Answer?

Mollie Hutchinson · Answer 1

A.

Explanation:

Economic systems refers to the different ways in which a government moves and distributes the resources that the country needs, including labor, capital, entrepreneurs, physical resources and information resources. That being said the two main characteristics that explains how they differ would be who owns the factors of production which are the 5 stated above, and the methods used to coordinate economic activity.