An Economic System Is the Way an Economy Organizes to Use

question 246

True/False

An economic system is the way an economy organizes to use scarce resources to produce goods and services and distribute them for consumption among various people and groups in the society.

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Definitions:

Oxygen Torch Valve

A valve on an oxygen torch that regulates the flow of oxygen to control the flame for welding or cutting purposes.

PPE

Personal Protective Equipment; gear worn to minimize exposure to hazards that can cause serious workplace injuries and illnesses.

Electric Arc Welding

A type of welding process using an electrical arc to generate heat to melt and join metals together.

Eye Protection Filter

A protective device or coating that shields the eyes from harmful light or debris.