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| | What is an economic system? (Site not responding. Last check: ) |
 | | An economic system is comprised of the various processes of organizing and motivating labor, producing, distributing, and circulating of the fruits of human labor, including products and services, consumer goods, machines, tools, and other technology used as inputs to future production, and the infrastructure within and through which production, distribution, and circulation occurs. |
 | | Thus, one would speak of a Chinese economic system, although China may, in fact, be a complex conglomeration and interaction of economic systems. |
 | | More recent mainstream approaches to comparative economic systems are less polemical, focusing on the way non-economic factors influence (as exogenous variables) the structure and functioning of economies. |
| www.mtholyoke.edu /courses/sgabriel/econ_system.htm (293 words) |
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