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Is the level of competition high or low in traditional economy?
High
Is the level of competition high or low in the mixed economy?
low
Who chooses what to produce in traditional economy?
Families, Clans, or Tribes within the a traditional economy decide what goods and services will be produced. This is based off the customs and traditions that have been followed for generations in said traditional economy
Who controls the traditional economy?
Traditional economies are usually run at a tribal level, so the TRIBAL CHIEFTAIN has the most power.
What pillar of free enterprise would be missing in a traditional economy?
In a traditional economy, the pillar of competition would be missing. Traditional economies typically rely on customs and practices rather than market forces, which limits the entry of new businesses and innovations. This absence of competition can lead to inefficiencies, as there are fewer incentives for producers to improve quality or reduce prices. Consequently, economic growth and consumer choice are often restricted in such systems.
Is the level of competition high or low in traditional economy?
High
Is the level competition high or low in the command economy?
It is low
Is the level of competition high or low in the mixed economy?
low
Is the level of competition high or low in the economy?
It is high because everyone in the economy is trying to make money.
Who chooses what to produce in traditional economy?
Families, Clans, or Tribes within the a traditional economy decide what goods and services will be produced. This is based off the customs and traditions that have been followed for generations in said traditional economy
Who controls the traditional economy?
Traditional economies are usually run at a tribal level, so the TRIBAL CHIEFTAIN has the most power.
What pillar of free enterprise would be missing in a traditional economy?
In a traditional economy, the pillar of competition would be missing. Traditional economies typically rely on customs and practices rather than market forces, which limits the entry of new businesses and innovations. This absence of competition can lead to inefficiencies, as there are fewer incentives for producers to improve quality or reduce prices. Consequently, economic growth and consumer choice are often restricted in such systems.
What are the four degrees of competition that exist in a capitalistic economy?
The four degrees of competition that exist in a capitalistic economy are: perfect competition, monopolistic competition, oligopoly, and monopoly.
What is the economic system in Kazakhstan?
Kazakhstan has a Traditional economy
Habit and custom determine economic activities in a?
Traditional Economy
What is a good word sentence using the word traditional economy?
china is not a traditional economy now. It has emerged as mix economy.
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
