how are traditional and market economies the same

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01-09-2021
Social Studies

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how are traditional and market economies the same

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Litchilover7idn Litchilover7idn · Answer 1 · 2021-09-01T21:14:31-04:00

Litchilover7idn Litchilover7idn

01-09-2021

Answer:

There are several similarities: Neither economy is based on "market forces" as we understand them today.... In a traditional economy, culture determines that only certain kinds of goods can be produced; in a command economy, the centralized authority determines production.

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Blakeblueidn Blakeblueidn · Answer 2 · 2021-09-01T21:47:54-04:00

Blakeblueidn Blakeblueidn

01-09-2021

A traditional economy is a system that relies on customs, history, and time-honored beliefs. Tradition guides economic decisions such as production and distribution. ... 2 A market economy is a system where the laws of supply and demand direct the production of goods and services.

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Sagot :

There are several similarities: Neither economy is based on "market forces" as we understand them today.... In a traditional economy, culture determines that only certain kinds of goods can be produced; in a command economy, the centralized authority determines production.

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