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What is the economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
Wiki User
∙ 8y ago
a centrally planned economy
Mylene Gleichner
Wiki User
∙ 11y agoa centrally planned economy
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How does a society answer the three economic questions about the production and consumption of good and services?
Its answer is based on the importance it attaches to various economic goals and societal values.
How does a society answer the three economic questions about the production and consumption of goods and services?
Its answer is based on the importance it attaches to various economic goals and societal values.
How does the society answer three economic questions about the production and consumption of good and services?
Its answer is based on the importance it attaches to various economic goals and societal values.
What economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
Traditional Economy
Define economic system?
is the system of production,distribution and consumption of goods and services of an economy
How does a society answer the three economic questions about the production and consumption of good and services?
Its answer is based on the importance it attaches to various economic goals and societal values.
How does a society answer the three economic questions about the production and consumption of goods and services?
Its answer is based on the importance it attaches to various economic goals and societal values.
How does the society answer three economic questions about the production and consumption of good and services?
Its answer is based on the importance it attaches to various economic goals and societal values.
What economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
Traditional Economy
What do economic questions deal with?
Economics analyzes the production, distribution, and consumption of goods and services. Economics tries to explain how economies work and how economic elements interact.
What is economic theory another name for?
An economic theory is a theory that has to do with the production, distribution and consumption of goods and services.
Define economic system?
is the system of production,distribution and consumption of goods and services of an economy
What is economic mode?
A state of equilibrium in the production of goods and services within the economic parameters in consumption,investments,savings and the forces of supply and demand for production.
What economic system in which decision on production and consumption of goods and services are based on voluntary exchange in market?
The Market
Which person studies the production distribution and consumption of goods and services?
An Economist studies the production distribution and consumption of goods and services
Which person studies the production .distribution and consumption of goods and services?
An Economist studies the production distribution and consumption of goods and services
What is the tool for analyzing the production distribution and consumption of the good and services?
Economic analysis is need for analyzing the production, distribution and consumption of goods. This allows a group or business understand what goods are the most needed and sell the best.
