In a traditional economy, people rely on barter or the exchange of one good for another good. In such an economy, the competition is any other valuable product that someone has to offer a dealer to rival what you have to offer.
traditional economy comitition and consumer choice
High
High
low
Families, Clans, or Tribes within the a traditional economy decide what goods and services will be produced. This is based off the customs and traditions that have been followed for generations in said traditional economy
Traditional economies are usually run at a tribal level, so the TRIBAL CHIEFTAIN has the most power.
The four degrees of competition that exist in a capitalistic economy are: perfect competition, monopolistic competition, oligopoly, and monopoly.
High
It is low
low
It is high because everyone in the economy is trying to make money.
Families, Clans, or Tribes within the a traditional economy decide what goods and services will be produced. This is based off the customs and traditions that have been followed for generations in said traditional economy
Traditional economies are usually run at a tribal level, so the TRIBAL CHIEFTAIN has the most power.
The four degrees of competition that exist in a capitalistic economy are: perfect competition, monopolistic competition, oligopoly, and monopoly.
Kazakhstan has a Traditional economy
Traditional Economy
china is not a traditional economy now. It has emerged as mix economy.
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
Traditional economy has been around since the dawn of man!!!!