Traditional economics.
Customs and traditions.
A traditional economy is where all economic decisions are based on age-old customs.
traditional
Market economy
traditional
Mercantilism
George Abonyi has written: 'Development and technology' -- subject(s): Economic development, Technological innovations 'Toward a political economy approach to policy-based lending' -- subject(s): Economic assistance, Economic policy, Structural adjustment (Economic policy) 'Global change and economic restructuring in Southeast Asia' -- subject(s): Foreign economic relations, Structural adjustment (Economic policy)
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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
Traditional
Containment
Containment