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Discuss the Three Basic Types of Economic Systems

question 45

Essay

Discuss the three basic types of economic systems.


Definitions:

Action Directions

Strategic moves or steps taken towards the achievement of goals or objectives.

Strategic Plans

Long-range action plans designed to help an organization achieve its goals and objectives through a coordinated set of actions.

Operational Plans

Detailed, short-term plans that outline how a business will functionally achieve its objectives and strategic goals.

Recruitment

The process of finding, attracting, and selecting candidates for employment to fill job vacancies within an organization.

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