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CarryOutToday is an application that allows customers to place their grocery orders online. CarryOutToday has employees who pick the ordered items from the stores and pack them up, ready for delivery. It then avails the services of registered independent drivers who deliver these ordered groceries to the customers. In this scenario, the service provided by the independent drivers to CarryOutToday exemplifies the system of _____.
Markets
Systems, institutions, or environments where buyers and sellers interact to exchange goods, services, or information.
Technological Change
Adjustments or improvements in the method of production, invention, and innovation in processes that often lead to increased productivity.
Microwave Ovens
Appliances that use microwave radiation to cook or heat food, offering a quick and convenient method of food preparation.
General Equilibrium
A condition in an economy where supply and demand are in balance across all markets simultaneously.
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