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SDD- you are thinking of a market economy.
In a traditional economy handcrafts, farm animals and farming crops are produced.
It is produced by the family unit or in small tribes/collectives all local to the area it is consumed in.
What else can I help you with?
Which economy answers the three basic economic questions with the phrase Do as you have always done?
traditional
Who answers the three economic questions in a command economy?
The government answers the three economic questions in a command economy.
In what economy the government answer the three economic questions?
three economic questions what to produce how (much) to produce who gets the goods Answer: Command economy.
What combines the elements of pure economic systems?
A mixed economy combines elements of traditional, market, and command economic models to answer the three basic economic questions.
Which economy awswers the three economic questions with the frase do as we always done?
The economy that answers the three economic questions—what to produce, how to produce it, and for whom to produce it—using the phrase "do as we always have done" is typically a traditional economy. In a traditional economy, customs, traditions, and established practices dictate production and distribution methods, often relying on agricultural or communal practices. This approach is resistant to change and innovation, prioritizing stability and continuity over adaptation.
Who answers the three economic questions in command economy?
government
What are the three kinds of economic systems?
Market economy,traditional economy,command economy and mixed economy
What are the three basic economic questions must be answered in a barter economy.?
guide the economy
What type of economy answers the three basic economic questions?
3 types of economic system
How does a traditional economy differ from a capitalist economy?
In a capitalist system, the government answers the three basic questions.
Who answers the three economic questions in a traditional economy?
In a traditional economy, the three economic questions—what to produce, how to produce, and for whom to produce—are typically answered by customs, traditions, and cultural practices. Decisions are often based on historical norms and community practices rather than market forces or government directives. Families and local communities play a significant role in determining production methods and distribution, ensuring that economic activities align with their collective values and needs.
What economy answers the three basic economic question the phrase do as we have always done?
traditional
