Explain how the economic systems of countries differ?

Explanation:

Economic systems can be defined as a system with characteristics and principles for regulating all components of an economy, such as labor, production, resources, etc.

It is different according to each country, in that each country operates through different laws and rules for controlling the economy. There are countries that operate through a more rigid economic system, where there is government control over production and market prices, and there are countries that operate in a freer economic system, where the government does not interfere so much in private property, in profitability and in price, and organizations operate according to the law of supply and demand, such as the capitalist system, for example, which is a system that is very widespread in the globalized world, where the primary objective is the accumulation of profits.

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