Which term describes organized systems of employment with contracts and agreed working conditions?

The term that describes organized systems of employment with contracts and agreed working conditions is "Formal economies." This concept refers to the sectors of the economy that are regulated by law and where the work arrangements, wages, benefits, and working conditions are clearly defined and documented through contracts. In formal economies, employers and employees both have legal protections and rights, ensuring accountability in their employment relationship.

In contrast, informal economies are characterized by unregulated and unofficial work arrangements, often lacking legal contracts and protections. Alternative economies may refer to economic activities that are outside conventional systems, such as cooperative businesses or barter systems. Shadow economies involve unreported income or activities that happen below the radar of regulation, often to evade taxes or legal obligations. These alternatives do not possess the structured and contractual frameworks defining formal economies, which makes the latter the correct choice in this context.