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Explain about the term Traditional Economy.
Traditional economy:
It is where decisions regarding what, how and for whom to produce are based onto tradition and custom. As like an example, men follow the occupation of their father as for example, farmer while women are normally homemakers preparing meals. Land is normally held into common that is private property is not well described.
Explain about the term Traditional Economy. Traditional economy: It is where decisions regarding what, how and for whom to produce are based onto tradition and custom. A
Problem: (a) Critically asses the difference between economic growth and economic development. (b) Describe the definition of economic development as a multidimensional pro
product asssignment on factor of production
Calculate the expected yields for a (1,4,2,1) path
the central problem facing a group of survivors on a ship
summary
What are the requirements of national figure to adjusting? National figures first require adjusting: • For population: Dividing Gross Domestic Product (GDP) by total populat
Ask ques Choose a topic from Micro economics that matters to you and find a recent news article covering that topic. For example following can be some of the useful topics: - Austr
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how the concept of elasticity used for decision making
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