Understanding Economic Allocation Systems

Every society has a system for deciding who gets what. This is called allocation. It all boils down

to three questions: What do we make? How do we make it? And who gets the final product?

Some societies are traditional, where culture dictates everything. Others are market-based,

where private businesses call the shots. Then you have command economies, where the government

controls it all. Most countries today are a mixed system, combining private freedom with government

oversight. So, the system you live in isn't just a boring concept;

it's the blueprint that shapes your opportunities.