Excludable goods An excludable good is an item or service that’s not freely available. This type of good has set limitations for those who can…
Economic activities are actions individuals or organisations undertake to generate income, typically involving producing, distributing, or consuming goods and services. Sectors, on the other handrepresent…
Economies can be classified into different types based on different parameters They are: Capitalistic Economy (Capitalism), Socialistic Economy (Socialism) Mixed Economy (Mixedism) Capitalistic Economy (Capitalism)…
Economic System refers to the manner in which individuals and institutions are connected together to carry out economic activities in a particular area. It is…