10 Which Best Describes a Traditional Economy

A small close community that avoids change and new technology a large widespread communit. Most if not all business decisions are made by the governmentResources are owned by the governmentThe government decides the jobs people have.

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The Confederate economy was primarily agricultural.

. Which statement best describes a command economy. In a market economy decisions are based on habit. An economy where every private seller competes for profit margins.

All of the following are examples of a traditional economy except. In a traditional economy decisions are based solely on supply and demand. Which best describes a traditional economy.

The decisions made by producers and consumers drive all economic choices. Command economy with limited market reforms i. A traditional economy is an economic system where decisions are based on customs beliefs or religion within a social community.

In a traditional economy decisions are based on habit and custom. A market with no competition where bartering occurs to obtain goods. Second a traditional economy exists in a hunter-gatherer and nomadic society.

What is a characteristic that. In a traditional economy decisions are based on habit and custom. In a market economy decisions are based on custom.

The government determines economic choices and makes most decisions. In a market economy decisions are based on habit. In a market economy decisions are based on custom.

A small close community that avoids change. Producers and consumers make some economic choices while the government makes others. Which statements describe a command economy.

The barter system d. Which statements describe a traditional economy. These societies cover vast areas to find enough food to support them.

First traditional economies center around a family or tribe. People work together to produce. This type of economy is characterized by competition and high level of private ownership.

What best describes the confederate economy. They use traditions gained from the elders experiences to guide day-to-day life and economic decisions. In a market economy decisions are based on habit.

Hunting and gathering b. Drag and drop the country names to classify them by type of economy that they have today. Government intervention in economic choices is strictly forbidden.

Terms in this set 9 Economic growth is not a top priorityChange is slow. In a traditional economy decisions are based solely on supply and demand. A structure run by the government that offers little freedom of choice to citizens.

A market run by a single seller. See answer 1 Best Answer. A traditional economy is defined as.

There is no government intervention in this type of economy. Correct answer - Which best describes a traditional economy. In a traditional economy decisions are based on habit and custom.

In a traditional economy decisions are based solely on supply and demand.

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