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What are some similarities between command and traditional economy?
Wiki User
∙ 11y ago
In a command economy government agencies take the decisions regarding consumption production and distribution in other words allocation of resources . The classical example of command economy was the economy of erstwhile USSR- where major decisions were taken by the soviet planning commission.
Traditional economy refers to economy in which primary sector- agriculture , mining , fishing , lumbering , animal husbandry etc, is dominant economic activity - in terms of share in GDP and employment.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agoEconomic decisions are made via centralized planning, and prices do not determine how much is produced.
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What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
How market traditional and command economy adapt to change?
A traditional and command economy adapt slowly, a market economy adapts fast.
Is Russia primarily a traditional or command or market or mixed economy?
command economy
Does Serbia have a traditional command or market economy?
It has market economy
What are other names for traditional economy?
command economy
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
How market traditional and command economy adapt to change?
A traditional and command economy adapt slowly, a market economy adapts fast.
Is Russia primarily a traditional or command or market or mixed economy?
command economy
Does Niger have a mixed market command or a traditional economy?
traditional
Does Serbia have a traditional command or market economy?
It has market economy
Is Israel a traditional market command or mixed economy?
Mixed economy because it is only command on the farming.
What are other names for traditional economy?
command economy
Does Venezuela have a traditional command free market or mixed economy?
it has a free economy
How can you tell if a country is traditional in economy or command economy?
It all depends on the region
Is iraq's economy market mixed traditional or command?
iraq's economy is mixed
What are the three kinds of economic systems?
Market economy,traditional economy,command economy and mixed economy
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.
