ABSTRACT
Economic systems are the means by which scarce resources are produced and allocated within and between societies. At different levels of development, different sectors of the economy predominate. Economies contain up to three basic sectors: primary, secondary, and tertiary. Over time, as the economy has evolved from one level of development to another, different types of economic activity have taken place, different sectors of the economy have predominated, and different regions of the country have benefited. Changes in levels of economic development have also had tremendous impact on the world, leaving different parts of the world at dramatically different levels of economic development. The most basic level of economic development, with the simplest division of labor, is the hunting-and-gathering economy. This type of economy has no cultivation and no manufacturing. The evolution of economic systems began with the transition from hunting-and-gathering economies to agricultural economies.
