The type of economic system of a country depends on how it allocates resources. There are four types of economy.
Production is the process of making a material good with the help of factors of production, which has a certain value in the given circumstances.
In brief, economics is a system that encompasses the production, sale, distribution, and consumption of goods and services.
Adam Smith made an in-depth analysis of the world of business relations and came to the conclusion that each person in society acts in his own