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What was the traditional method for monitoring the use of resources?
This is a traditional method for monitoring the use of resources that was initially applied to basic inputs for only basic factory costs of production of goods.
Who owns traditional economy resources?
The government and the kids of the w
Compare the three economy questions to command economy market economy and traditional economy?
traditional economy: resources are allocated based on custom and traditionmixed economy:resources are allcoated based on mixed informtion given.command economy: resources are allocated by the government or other central authoritymarket economy: resources are allocated by individualsCommusim
What are the advantages of traditional economy system?
A traditional economy is based on an established economy that has proven successful in the past. Resources are allocated by inheritance. There is no waste of resources and roles are well defined. A huge disadvantage, however, is a resistance to change.
What are traditional Human resource functions?
Traditional human resources functions include hiring and training. They are also responsible for establishing benefits, such as 401K and medical insurance for employees.
Why you need to have abundant energy resources?
A person may need to have abundant energy resources for conserving energy. This allows a person to use alternative resources of energy, like solar energy for their home versus traditional electricity.
What is Argentina's traditional resources?
Argentina has traditionally been a cattle ranching country; they have the resource of land that is suitable for ranching.
Does the traditional profit maximization model hold relevance in modern world?
Yes, the traditional profit maximization model still applies because resources are still limited. To make sure you are getting the most money, you have to consider what generates the most profit based on limited resources and other constraints.
What is a cultural resource?
A cultural resource is any physical or intangible element that has cultural, historical, or archaeological significance. These resources can include sites, artifacts, buildings, traditions, stories, or practices that hold important value for a particular community or society. Preserving and protecting cultural resources helps maintain a connection to the past and promotes cultural heritage.
What are the sources and causes of conflict in traditional societies and methods of resolving them?
competition over resources and violation of rules/norms - many
How are traditional economies resources allocated?
It is allocated according the market equilibrium which is subjected to the changing market demand and market supply.
How are resources allocated in traditional economy?
It is allocated according the market equilibrium which is subjected to the changing market demand and market supply.
