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Economy - Coggle Diagram
Economy
Models, Data and Variables
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Economic data are facts, generally expressed in figures, that provide information on economic variables.
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Most economic variables, such as the production of a good, the quantity of a productive factor used, the prices of goods and services, or the income levels of families, can be expressed using figures.
Economic Systems
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The Liberal Economy
Capital and the means of production belong to the people, to the shareholders.
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It is the science that studies the most convenient allocation of the limited resources of a society to obtain an ordered set of objectives
The main objective of economic science is to understand how the economies of different countries work.