An economic system can be considered a part of the social system and hierarchically equal to the law system, political system, cultural and so on. Today the dominant form of economic organization at the world level is based on market-oriented mixed economies. Subsequently, the categorization of economic systems expanded to include other topics and models that do not conform to the traditional dichotomy. The analysis of economic systems traditionally focused on the dichotomies and comparisons between market economies and planned economies and on the distinctions between capitalism and socialism. The study of economic systems includes how these various agencies and institutions are linked to one another, how information flows between them, and the social relations within the system (including property rights and the structure of management). It is noteworthy to state that solutions to these fundamental problems can be determined by the type of economic system. This fundamental economic problem requires an intensive study of time dynamics and seasonal variation vis-a-vis the satisfaction of consumers' needs. When to produce: Consumer satisfaction is partly a function of seasonal analysis as the forces of demand and supply have a lot to do with time.This fundamental problem of how the output will be distributed seeks to identify the best possible medium through which bottlenecks and the clogs in the wheel of the chain of economic resources distributions can reduce to the barest minimum and optimize consumers' satisfaction. How the output will be distributed: Production is said to be completed when the goods get to the final consumers. On a broad note, the possible production method includes labor-intensive and capital-intensive methods.
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