0
What do market economy and traditional economies have in common?
Wiki User
∙ 11y ago
i think that it is they are both ruled by the government and they are both economic systems (duh) they both effect peoples lives/lifestyles and they both have to do with goods and services (if this answer is wrong please feel free to correct it hopefully you will do it in a nice way and tell me "the correct answer is". . . . but i have a good feeling that im wrong so please feel free to correct me THANKS)
Wiki User
∙ 11y ago
Anonymous
Add your answer:
Earn +20 pts
What is the difference between a mixed economy and a market economy?
A mixed economy is a combination of communist, market and traditional economies. A market economy basically has free reign over the production and distribution of goods and services.
Equilibrium and economies scale in market economy?
Equilibrium and economies scale in market economy
What are the features of a mixed economy?
A mixed economy features a "mix" of features from traditional economies, market economies, AND command economies--usually the most advantageous features from each. For example, most mixed economies borrow three of the most advantageous characteristics of a market economy: pricing, private property, and individual self-interest. The United States is one example of a mixed economy.
What are the main features of a traditional economy?
An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. Countries that evolve their economies past the traditional level often develop into market economies or command economies.
What does mixed economic system mean?
A mixed economy is when you have some aspects of every single economy traditional, command, and market economies put together in one economy.
What is the difference between a mixed economy and a market economy?
A mixed economy is a combination of communist, market and traditional economies. A market economy basically has free reign over the production and distribution of goods and services.
Equilibrium and economies scale in market economy?
Equilibrium and economies scale in market economy
What was Europe's most common economy?
Most European countries would have market economies.
What are the features of a mixed economy?
A mixed economy features a "mix" of features from traditional economies, market economies, AND command economies--usually the most advantageous features from each. For example, most mixed economies borrow three of the most advantageous characteristics of a market economy: pricing, private property, and individual self-interest. The United States is one example of a mixed economy.
What are the main features of a traditional economy?
An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. Countries that evolve their economies past the traditional level often develop into market economies or command economies.
What does mixed economic system mean?
A mixed economy is when you have some aspects of every single economy traditional, command, and market economies put together in one economy.
What are the three main types of economies?
Command, traditional, and market economies
How does a market economy effect other economies?
it will boost other economies.
What is the definition of tradition-based economy?
An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. Countries that evolve their economies past the traditional level often develop into market economies or command economies.
What group of players make all of the economic decisions in a freemarket system?
The US, Japan and Germany are all market economies. In a traditional economy. In market economies, economic decisions are made by individuals.
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
What are the 3 types of economies?
Market Economy - Where consumers decide which goods and services they want and businesses provide these. Most businesses in a market economy are privately owned. The USA is an example of a market economy. Command economy - Where the government owns most businesses. The government decides what and how much will be produced. Russia and China used to have planned economies. Traditional economy - an economic system in which people make economic decisions based on customs and beliefs that have been handed down from one generation to the next. A mixed economy is another kind of economic system which bledns elements of the 3 above economic systems. It is not one of the 3 major types of economies.
