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Why is traditional economy most common in isolated places in Asia and Africa?
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Who owns the factors of production in a traditional economy?
The question is nonsensical. The factors of production require the existence of a consistent production, but this does not exist in a traditional economic system. All things that are produced are produced using common materials that are available to all and items are only created when they are necessary - not when a factory owner chooses to produce.
In which type of economy do people grow crops for their own use?
There are several economic systems that operate along this principle, but the most common of these is capitalism.
What is one economy type?
There are 3 types. Market economy, Planned economy and Mixed economy (most common).
Which kind of economy is most common in the world today?
Market Economy
What economy is the most common economy today?
mixed
Who owns the factors of production in a traditional economy?
The question is nonsensical. The factors of production require the existence of a consistent production, but this does not exist in a traditional economic system. All things that are produced are produced using common materials that are available to all and items are only created when they are necessary - not when a factory owner chooses to produce.
What are two traditional religious practices in West Africa?
One of the most common traditional practice of west Africa is the making of animal sacrifices to appease the gods or ancestors. Performing of religious rituals and singing songs are other practices of west Africa.
In which type of economy do people grow crops for their own use?
There are several economic systems that operate along this principle, but the most common of these is capitalism.
How do you become a traditional healer?
Depending on the culture, it involves a ritual. There is hardly a place in the world that modern medicine has not touched and in general the traditional healer exists in very isolated locations. The rituals have one thing in common, the people of the culture bestow the blessing of the god they worship upon the healer.
What is one economy type?
There are 3 types. Market economy, Planned economy and Mixed economy (most common).
Where is polio most common?
Polio is most common in India and Africa.
What is the most common vegetation is Africa?
The most common vegetation in Africa is there rain forests.
Which kind of economy is most common in the world today?
Market Economy
What economy is the most common economy today?
mixed
Can a traditional economy be unpredictable?
"Unpredictable" is an evaluation of a certain scenario panning out. As the question is phrased, no particular scenario in a traditional economy is being evaluated, some of which are completely predictable, but others which are mildly or extremely unpredictable.The organization and maintenance of trade partners under a traditional economy -- predictable. Most people in a traditional economy live in very small and localized communities. As a result, their choices for interaction are very few and easily modeled.The exchange values between commodities in a traditional economy -- mildly unpredictable. Since traditional economies are based on barter, the value of a particular good is motivated more by negotiation and the demands at the moment. For example, in a time a poor harvests, a bushel of wheat may be worth more shoes than it would be in a time of plenty. However, the price will almost never become absolutely outrageous because otherwise the shoemaker will go into his agricultural production.Agricultural and resource yields in a traditional economy -- extremely unpredictable. Since modern agricultural techniques are not used, famines are quite common. Since modern geologic surveys are not performed, the likelihood of finding metals or rare woods is very haphazard. This leads to high levels of unpredictability.
Is Africa a common noun?
No,Africa is a proper noun
What is the most common economy?
MIXED
