What term denotes a nation's basis for allocating its resources among its citizens?
A) Capital structure
B) Economic system
C) Ownership processes
D) Distribution network
E) National regulations

Question

Quizplus · Accepted Answer

An economic system refers to the structure and organization through which a society allocates its resources among its citizens. It includes the methods and institutions used to address the three basic questions of what, how, and for whom to produce. Different economic systems allocate resources differently, through various methods such as markets or central planning. Therefore, B) is the best answer to the question.

What Term Denotes a Nation's Basis for Allocating Its Resources