American Public University
Introduction
Economic systems aim at developing a sustainable economy that is expected to satisfy the needs of the citizens in the country. An efficient economic system produces the maximum amount of goods by using the production factors at the possible highest productivity level. Productivity is one aspect in an efficient economic system. The other aspect of an efficient system is to distribute the economic production fairly and efficiently among the citizens. The equality in the distribution influences the productivity level of the country.
Considering that the citizens of the country are the entrepreneurs, the workers, and the consumers ...