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how are traditional and market economies the same

Sagot :

litchilover7

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.
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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