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Dynamics of knowledge in the economic system framework: Cognitive approach

Purpose- This paper aims to explore how the role of knowledge shapes concepts in an economic system framework. Methodology- Literature study Findings- By using literature study within cognitive approaches based on management theory, it can be explained how knowledge is processed, what environmental conditions are needed, and which actors are related. Furthermore, the relationship between concepts is discussed and presented in the form of conceptual framework of economic system from knowledge perspective. Conclusion- This paper confirms the importance of the role of knowledge as a key resource in economic system that can be adopted or developed in regional economic studies.