Section 1
Introduction to Economic Systems
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3 concepts
![Thumbnail](../../../../../../figures.boundless-cdn.com/4248/square/communism.jpg)
Economic Systems
A country's economic system is made up of institutions and decision-making structures that determine economic activity.
![Thumbnail](../../../../../../figures.boundless-cdn.com/2021/raw/supply-and-demand.jpg)
Impacts of Supply and Demand on Businesses
The mechanisms of supply and demand in a competitive market determine the price and quantities of products.
![Thumbnail](../../../../../../figures.boundless-cdn.com/7125/square/gdp-accumulated-change.jpg)
Growth Economics
Long term trends in economic growth can be measured by tracking changes in a nation's gross domestic product (GDP) over time.