For many people and in the social science the term government means a particular group of people that administrates and controls a nation or a state at a given time. Every government hasa way to organize and structure the nation and that’s called governing. The governments that success is because they know how to make decision. Their function is to make laws and to legislate newones.
Is the study of how people choose to use resources. That resources include the time and talent people have available. The economics include many choices that involve how much time todevote to work, to school, and to leisure, how many dollars to spend and how many to save, how to combine resources to produce goods and services. People appear to use their resources in a good waylike to improve their well-being. That includes the satisfaction people gain because of products they use or services they choose to consume.
We can say by economic system that itis the structure of production, allocation of economic inputs, distribution of economic outputs, and consumption of goods and services in an economy. It is based in a set of institutions and theirsocial relations.
An economic system is composed of people and institutions, including their relationships to productive resources, such as through the convention of property.
There are four economicsystems, they are: traditional, market, command, and mixed. All the economic systems are based on a different thing, traditional is based on agriculture, market is based on the supply and demand, itfocuses on consumer goods and in marker the government has little control, in the command economy the government has full control, it pays little attention to consumer goods and agriculture and itfocuses basically on industrial goods, and mixed economy is a combination of the market and control economy here the market controls consumer goods and the government directs the industry.