economic organization

Economic organization refers to the way in which an economy is structured and managed to produce, distribute, and consume goods and services. It encompasses various systems, including capitalism, socialism, and mixed economies, each defining roles for individuals, businesses, and governments. Economic organization influences how resources are allocated, how businesses operate, and how wealth is created and shared in society. Effective economic organization aims to achieve efficiency, equity, and stability, ultimately shaping the quality of life for individuals and communities within an economy.