Question

Write a short note on Economic Organisation.

Answer 1

Economic organisation refers to the system of production, distribution, and consumption of goods and services in a society. It includes the structures, institutions, and practices through which people meet their material needs and make a living. Economic organisation determines how resources are allocated, what roles individuals play in the economy (like farmers, artisans, or traders), and how wealth is distributed. It varies across societies, from tribal subsistence economies to modern industrial and service-based systems, and reflects the cultural, technological, and social context of a community.