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Describe the main strength and weakness of a traditional economy?
A traditional economy is an economy based on custom and tradition.The main strength is each person has job. There is less crime. There is no over consumption and surplus.The main weakness is they are poor. There is no innovation or it is not valued.
What are the two main types of economy?
The two main types of economy are Command and Traditional.
What are the 4 main types of economic systems?
the 4 main types of economic systems are: a market economy, a mixed economy, a planed economy, and a traditional economy
What are three main types of economics?
The three main types of economics are traditional economy, command economy (AKA planed or directed economy)& free enterprise economy (AKA private capitalism or the market economy)
What is the economic system in Kazakhstan?
Kazakhstan has a Traditional economy
Habit and custom determine economic activities in a?
Traditional Economy
What is a good word sentence using the word traditional economy?
china is not a traditional economy now. It has emerged as mix economy.
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
When did traditional economy start?
Traditional economy has been around since the dawn of man!!!!
What are the 4 economic systems?
The four types of economic systems are the traditional economy, the market economy, the command economy, and the mixed economy. Of these, the traditional economy is the most basic.
What type of economy does the honduras's have?
A traditional economy.
What is the smallest type of economy?
Traditional economy
