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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.
#question.discuss the contention that the existance of a labour market is characterised by perfect competition is a fallacy.
describe production function for computers
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