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Definition of ECONOMIC GEOGRAPHY. : a branch of geography that deals with the relations of physical and economic conditions to the production and distribution of commodities.
Economic system. An economic system is a system of production, resource allocation, and distribution of goods and services within a society or a given geographic area. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community. As such, an economic system is a type of social system. The mode of production is a related concept. All economic systems have three basic questions to ask: w