Econ Flashcards
1
Q
Traditional Economy
A
a basic economic systems where customs and traditions are the elements that determine the way trade and commerce are performed
2
Q
command Economy
A
the central government dictates the level production of goods and crontrolls their distribution and priceses
3
Q
market Economy
A
an economic system is which economic decisions and the pricing of goods and services are guided by the interaction s of a country’s individual citizens and businesses
