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What habit and custom dictate the rules for all economic activity in the system?
Updated: 8/19/2019
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∙ 10y agoBest Answer
Traditional
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What a economic system?
An economy based on custom or tradition.
What is the economic system and economic activity?
These are how an economy is doing in a particular area. This will vary depending on the time in history, the country, and how much the government intervenes.
What in an economic system in which most economic activity occurs in the private sector where business is conducted by individuals or organizations in order to make a profit?
capitalism
Is an economic system in which most economic activity occurs in the private sector where business is conducted by individuals or organizations in order to make a profit?
capitalism
What economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
Traditional Economy
An economic system that relies on habit custom or ritual to decide questions of production and cunsumption of goods and services is?
Should be traditional.
The private ownership of property resources and use of prices to direct and coordinate economic activity is characteristic of..........?
A market system.
The private ownership of property resources and use of prices to direct and coordinate economic activity is characteristic of?
a Market System
The economic system in which the government is in almost complete control of the economic activity is called?
State capitalism. Not Communism, which has no government and no wages system.
What is the economic system in which most economic activity occurs in the private sector where business is conducted by individuals or organizations in order to make a profit?
capitalism
What is a feudal economic system?
Every estate was self-sufficient and produced or grew everything it needed to function.
What are the different economic system?
traditional economic system command economic system market economic system
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