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In a traditional economy, a person's way of life is crucial as it is closely tied to cultural practices, community relationships, and the sustainable use of local resources. Individuals often rely on age-old methods of production and trade, which fosters a sense of identity and continuity within their community. Their roles typically involve subsistence activities that ensure the survival of their families and maintain ecological balance. Thus, each person's contributions help preserve traditions and support the overall resilience of the community.
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In a traditional economy what are the economic decisions based largely on?
In a traditional economy the economic decisions are largely based on custom. In all centrally planned economies the government makes all important economic decisions.Ê
Who has the authority in a traditional economy?
He who has the money makes the rules
Who makes decisions in the traditional economy?
In a traditional economy, the decision to make certain products is decided by the people, but designed around traditions, customs, and beliefs.
Why is the government important to our economy?
the government is important in the country because:he makes sure the needs of the countrys people are methe makes sure the finances are in orderhe makes training courses for people working in a certain part of the economy to in improve their skills and contribute more to the country and economy from a primary school learner
Why is government important to the economy?
the government is important in the country because:he makes sure the needs of the countrys people are methe makes sure the finances are in orderhe makes training courses for people working in a certain part of the economy to in improve their skills and contribute more to the country and economy from a primary school learner
Discuss why the economy is an important component of the general environment?
The economy is an important component of the general environment as it affects the environment directly. With increased productivity which makes the economy better, the environment is polluted and suffers greatly.
Why is it important to trade with china?
China makes many goods and items not available in the USA. It has a huge industry and economy which makes it necessary to trade in order to keep our economy at balance.
How Important is sport to the british Economy especially football?
i like sport in Britain it makes my bollox tingle
How does technology and economy influencing the design process?
The use of technology to design the products is important in order for the economy to get by. However, technology alone doesn't influence the product design, the economics of supply and demand are what makes the economy stable.
What makes France have such a strong economy?
market economy
Why are hess trucks important to the economy?
Hess Trucks is a company that makes toy trucks. They would have an impact on the toy sales in America, but as far as the economy as a whole, they do not have a real major impact.
How important are ceremonies in your lives?
Usually for sentimental or traditional reasons. It makes them feel more secure in their beliefs and their place in society.
