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In a traditional economy what is the decision to make certain products decided by?
Wiki User
∙ 7y ago
In a traditional economy, traditions, customs, and beliefs shape the goods and products that society creates. This is an original economic system that is often rural and farm-based.
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In a free-market society, the production of goods is determined by the demand for those goods, to the extent that the raw materials and labor to make them is available.
Wiki User
∙ 7y ago
Wiki User
∙ 7y agoIn a traditional economy, each person decides what to produce, but this decision is usually severely constrained by the resources available and the quasi-autarkic nature of traditional economies.
Wiki User
∙ 11y agoSome designated leader.
Wiki User
∙ 13y agothe secretary.
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Who makes decisions in the traditional economy?
In a traditional economy, the decision to make certain products is decided by the people, but designed around traditions, customs, and beliefs.
What are the characteristics of command ecomy?
There are a few main characteristics of a command economy. These include having the government make decisions about which sections produce what products, the demand being based on the decision of the market economy, and the pricing being decided by the government.
Describe the 4 basic economic systems?
the are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like comunism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success.
What are the four basic economic systems around the world?
There are four types of economic systems: traditional economies, market economies, command economies, and mixed economies. these economic systems differ in how to answer the three basic questions: how to produce, what to produce and for whom to produce. In traditional economies, the three economic questions are decided mainly by social customs. In market economies, the economy is like capitalism in U.S and the economic questions are decided by individuals in the marketplace. In command economies, is like communism and the questions are decided by the government. In mixed economies, they are decided by a combination of market decisions making and government order. Many different combinations of these four kinds of economic systems are operating around the world today, with different degrees of success. Free-market and command (apex)
Why the government has decided not to charge VAT on certain basic goods?
Because those goods are needed for our health, and some people don't have enough money to pay for the VAT
Who makes decisions in the traditional economy?
In a traditional economy, the decision to make certain products is decided by the people, but designed around traditions, customs, and beliefs.
What is noun for the word decided?
Decision
What is past tense verb for decision?
decided
What does it mean to implement your decision?
It means to do what you have decided to do.
Words with prefix deci?
decided decides decision
what decision does Ray Leonard make?
he decided to stay on the boat
How do you spell desides?
The correct spelling is decided (made a decision, settled).
Who decided the name of the cities that the US dropped the atomic bomb on?
That decision was not made by a group of persons, it was Truman who decided it.
How do you use the word decision in past tense?
Decision is a noun. The verb form is decide, and the past tense is decided.
Why would the supreme court agree to review a lower court's decision?
Certain cases are important enough to require the authoritative decision of the nation's highest court rather than being decided by a lower court. If issues of constitutional interpretation are involved, that is the specialty of the Supreme Court.
What are the characteristic of command?
There are a few main characteristics of a command economy. These include having the government make decisions about which sections produce what products, the demand being based on the decision of the market economy, and the pricing being decided by the government.
Can you Tell me about a decision you made while under pressure?
I decided to give him the wallet.
