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Customs and traditions.
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In a traditional economy what are the economic decisions based largely on?
In a traditional economy the economic decisions are largely based on custom. In all centrally planned economies the government makes all important economic decisions.Ê
What economic system are the decisions based on customs?
traditional
All economic decisions are based on age-old customs.?
traditional
What type of economy is it where all economic decisions are based on age-old customs?
A traditional economy is where all economic decisions are based on age-old customs.
What is an economic system where most economic decisions are based upon what has been done for generations?
traditional
Who is the traditional manager?
A traditional manager is largely reactive making decisions, implementing plans based on the input of those above them, around them or in the external environment.
What type of economy best fits this description All economic decisions are based on age-old customs.?
Traditional
What is a traditionalist-based economic system?
A tradition-based economic system is an economic system where economic decisions are based largely on cusom. The four economic questions are answered according to the traditions of the country. People produce and distribute goods in the ways that have been followed for hundreds of years by their ancestors.
What best illustrates the traditional economic system?
There are a few things that illustrate the traditional economic system. These include Amazon tribes, Aborigines, and a multitude of substainance groups. For OW its "label reading Made in China"
What is the difference between a traditional and market economy?
In a {Traditional Economy}, economic decisions are based on customs handed down from generation to generation. In a {Market Economy} individuals make their own decisions about what to produce how to produce it & for whom to produce it.
What is the difference between traditional economy and market economy?
In a {Traditional Economy}, economic decisions are based on customs handed down from generation to generation. In a {Market Economy} individuals make their own decisions about what to produce how to produce it & for whom to produce it.
Because subjective decisions are based on a person's unique values and beliefs economic decisions .?
Economic decisions are based on whether the decision is profitable or not. For instance, businesses make economic decisions about when to hire employees.
