what social institution is a system of producing goods and services that involves the gathering of resources, the conversion of resources into usable commodities, and the distribution of commodities to members of a population?

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KvngDon771 KvngDon771

01-12-2022
Social Studies

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what social institution is a system of producing goods and services that involves the gathering of resources, the conversion of resources into usable commodities, and the distribution of commodities to members of a population?

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shardiksh890 shardiksh890 · Answer 1 · 2022-12-06T07:55:17+01:00

Economy is a system for producing goods and services that includes the following:1) Resource gathering 2) the transition of resources into serviceable commodities 3) dispersion of these goods to population members.

All living things must obtain resources from their surroundings and distribute them to existence parts. Life forms rely on organization and coordination in their pursuit of resources. Coordination of efforts to secure resources is a group phenomenon rather than an individual phenomenon; these efforts become an economy.

Learn more on economy-

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