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What is the more important economic goal for society in a traditional economy equity or growth?
In a traditional economy, equity often takes precedence over growth, as these economies prioritize fair distribution of resources and social welfare over rapid economic expansion. The focus is typically on maintaining balance within the community and ensuring that all members have their basic needs met. While growth can be beneficial, it may be viewed as secondary to preserving social cohesion and cultural values. Thus, in such economies, achieving equity is seen as essential for long-term stability and sustainability.
What else can I help you with?
Which type of economy has a socialistic view of society?
traditional
In a traditional economy what is the decision to make certain products decided by?
In a traditional economy, traditions, customs, and beliefs shape the goods and products that society creates. This is an original economic system that is often rural and farm-based. --- In a free-market society, the production of goods is determined by the demand for those goods, to the extent that the raw materials and labor to make them is available.
Compare capitalist economy with socialist economy?
Socialism means a classless stateless society with no money or prices or buying and selling. hence there can be no such thing as a Socialist economy.
What is allocation in economics?
The allocation process in a particular society's economy is the process by which the three fundamental economic questions get answered in the society.
In which economic system do most members of the society have specific jobs with no government involvement?
traditional
Which type of economy has a socialistic view of society?
traditional
What are related words to economic?
economy government society
What is the economy of the aboriginal society?
Aboriginal tribes have a traditional economic system in which the people follow the traditions of their elders and do what their people have done for the past hundreds of years.
Traditional economy coutries?
What type of Government is in control in a traditional,command and market economy? Who controls the resources? Distribution of goods and services? Controls productions? What are the negative affects on society? Benefits to society for each form of economy?
In a traditional economy what is the decision to make certain products decided by?
In a traditional economy, traditions, customs, and beliefs shape the goods and products that society creates. This is an original economic system that is often rural and farm-based. --- In a free-market society, the production of goods is determined by the demand for those goods, to the extent that the raw materials and labor to make them is available.
Compare capitalist economy with socialist economy?
Socialism means a classless stateless society with no money or prices or buying and selling. hence there can be no such thing as a Socialist economy.
Why is Mexico's economy important to its immigration?
Immigration from Mexico is inversely proportional to how its economy is faring. For example, if Mexico is having a bad economic performance, people from the poorer sectors of society look to immigrate into the United States.
What is allocation in economics?
The allocation process in a particular society's economy is the process by which the three fundamental economic questions get answered in the society.
Which economic system do most members of the society have specific jobs with no government involvement?
traditional
In which economic system do most members of the society have specific jobs with no government involvement?
traditional
How is Botswana economy in the ecocomic growth stage stated by Rostow?
Botswana economy is in the Traditional Society stage of growth as stated by Rostow. This means that they are a primary economy, meaning their society depends on hunting and gathering, subsistence agriculture, and limited technology
What you mean by open economy and closed economy?
By open economy it means that economy in which private people are allowed to participate in making economic decisions while,by closed economy it means the economy in which the government is the one planning for the whole society
