What do you mean by economics system

Meaning of Economics system

and economic system or economic system design by a nation to utilise its resources for the purpose of satisfying the needs and wants of people and economic system consist of those institution which is given measure or group of national has chosen or accepted as the means through which they are resources are utilise for the satisfaction of women wants and economic system comprises all the institution organisation and policy mechanism by which people of country manage and utilize the country resource to obtain they need...

basic constituents of an economic system

household is simple the most most significant unit is the household which means all the purpose living together as only family the every house Limited means but multiple needs give rise to the problem of allocation of escort resource for example a household to the decide whether to buy a car to send of chill abroad or higher education...

Industry

Industry means all the firm producing the same or similar product according to as Florence and industries is a group of firm trending to space lies in the same transaction or series of transaction if her is a single unit of production where and in industry comprises all the firm producing the same type of product...

government

government consist of all public Agencies state bodies and other units which cover the country in India is type so of government maintains law and order provide public service for example education health water electricity telephone public transferred etc.