Explain about the term traditional economy, Business Economics

Assignment Help:

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.


Related Discussions:- Explain about the term traditional economy

Capital cost estimation, You should use a variety of other methods of capit...

You should use a variety of other methods of capital cost estimation to check and refine your estimate to give a definitive capital cost for the plant. You will need to compare the

Assignment 3, #question.#quesExamine the expenditure trends over the last 4...

#question.#quesExamine the expenditure trends over the last 40 years. What are the direction and magnitude of changes in spending in and between these various categories (with the

What is success effectiveness of multi-national companies, What is the succ...

What is the success effectiveness of multi-national companies (transnationals) in the promotion of development? TNC FDI success into promoting development: • Introduces mode

Calculate the irr, You are evaluating a project that has the following cash...

You are evaluating a project that has the following cash flows: -100 today, then cash inflows of 20, 30, and 40 for the next three years, respectively, and thereafter cash flows gr

Utility theories, critically evaluate the two main utility theories

critically evaluate the two main utility theories

What are the similarities among the developing economies, What are the simi...

What are the similarities among the developing economies? Common characteristics of LDCs (Less Developed Countries) include: • Low living standards (that is low real income

What are social cohesion-social capital and social inclusion, What are soci...

What are social cohesion, social capital and social inclusion? Development economics importance the role of social capital, cohesion and inclusion into the process of developm

Describe situations wherein an is project use subcontractors, Describe situ...

Describe situations wherein an IS project may need or wish to use subcontractors. Purposes for using subcontractors include: a. Lack of resources or skills: The organisation

What are the restrictions of unbalanced growth, What are the restrictions o...

What are the restrictions of unbalanced growth? The restrictions of unbalanced growth: • Frequently governments go for high status, capital-intensive and high tech projects

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd