An
economic system is a mechanism which deals with the production, distribution
& consumption of goods & services as for solving the basic economic
problem. In broader sense, an economic system is a specific set of social institutions
which deals with the production, distribution, & consumption of goods &
services in a particular society. 4 types of economic system can be seen:
(1)Capitalism/Market economy
(2)Socialism/Command/Planned economy
(3)Mixed economy
(4)Islamic economy
(1)Capitalism/Market economy
(2)Socialism/Command/Planned economy
(3)Mixed economy
(4)Islamic economy
