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The North has cattle, wheat, and corn. The North farmed and food to eat. Which the South had cotton, their cash crop.

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Q: How was the economy of the old south different from the economy of the new south?
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What are the differences between old and new economy?

i just try to known the differentiate between old economy and new economy


What are the limitations of old economy?

Limitations of an old economy are its inability to change to meet modern demands, a lack of diversity, and low output. Old economies are based on systems which are largely forgotten or no longer used.


What are the three different types of economies and how are they different?

Command and Market: Traditional:Economy dominated by methods and techniques that have strong social support even though they may be old-fashioned or out of date.Command: An economy that is planned and controlled by a central administration, as in the former Soviet Union.Market : An economy that operates by voluntary exchange in a free market and is not planned or controlled by a central authority; a capitalistic economy.


What type of economy is it where all economic decisions are based on age-old customs?

A traditional economy is where all economic decisions are based on age-old customs.


What is different from a command economy and a mixed economy?

A Mixed economy is an economy that is both a planned and free enterprise economy.This means is has both STATE CONTROLLED economies and also PRIVATE OWNERSHIP economies. These 2 are commonly found the Caribbean, such as Barbados or Cuba for example. Free Enterprise is practically self explanatory. It if the economic system for people who own their own businesses such as shops. The Controlled economy is well obviously controlled by the STATE but this usually affects larger companies and businesses.