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Our economy does not allow a lot of economic growth. Therefore we usually stay the same and don't really expand at all. Another down fall is that our products are not as efficient as they would be if they were to be produced in a factory or by any machinery. Also there is really no opportunity for entrepreneurs so that lowers the quality of peoples lives
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∙ 13y ago
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What are the 4 main types of economic systems?
the 4 main types of economic systems are: a market economy, a mixed economy, a planed economy, and a traditional economy
Describe the main strength and weakness of a traditional economy?
A traditional economy is an economy based on custom and tradition.The main strength is each person has job. There is less crime. There is no over consumption and surplus.The main weakness is they are poor. There is no innovation or it is not valued.
What are three main types of economics?
The three main types of economics are traditional economy, command economy (AKA planed or directed economy)& free enterprise economy (AKA private capitalism or the market economy)
Which of these is a drawback to international trade?
job losses in the domestic economy
What is the economic system in Kazakhstan?
Kazakhstan has a Traditional economy
What are the two main types of economy?
The two main types of economy are Command and Traditional.
What are the 4 main types of economic systems?
the 4 main types of economic systems are: a market economy, a mixed economy, a planed economy, and a traditional economy
Describe the main strength and weakness of a traditional economy?
A traditional economy is an economy based on custom and tradition.The main strength is each person has job. There is less crime. There is no over consumption and surplus.The main weakness is they are poor. There is no innovation or it is not valued.
What are three main types of economics?
The three main types of economics are traditional economy, command economy (AKA planed or directed economy)& free enterprise economy (AKA private capitalism or the market economy)
Which of these is a drawback to international trade?
job losses in the domestic economy
What is the main drawback piece rates?
The main drawback is you have to work fast to make a good salary. The pay is slanted on the behalf of the company, not the individual.
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.
What is a drawback of a command economy compared to a free market economy?
Answer this question… A command economy reduces innovation by requiring all businesses to follow government orders.
When did traditional economy start?
Traditional economy has been around since the dawn of man!!!!
