Describe how different societies developed economic systems.
Describe how economic systems in the Eastern Hemisphere address the problem of scarcity.
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Describe how economic systems in the Western Hemisphere (such as traditional, command, market, and mixed) allocate resources.
Describe the characteristic of traditional, command, market, and mixed economic systems
Describe the role of competition in the determination of prices and wages in a market economy.
Compare the economic components of the different systems of government in the Western Hemisphere.
How do different systems address the production of goods?