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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.
Define the effectiveness of World Bank in promotion of development? The World Bank has a clear set of goals: to assist countries meet the UN Millennium Development Goals. A ma
Aska) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the c
Ask question different between Marginalism & incrementalism #Minimum 100 words accepted#
my fgeind lewis wants ro know about hard and soft hr and whats good and whats bad about it so cabn u answer pelase
What are the social economic factors and non economic factors in the development process? Development is a process including change into a number of social economic and non eco
Question #1 A baseball team is trying to predict ticket sales for the upcoming season. They are also considering increasing prices. The market has a population of 2 million perso
WHAT IS OPPOTUNITY COST?
Problem 1: "African Caribbean and Pacific (ACP) countries no longer have preferential access to the European market for their exports, except under provisions of „Special and D
What would primary markets look like in absence of secondary markets?
Do you agree with the traditional theory that assumes profit maximization as sole objective of a business firm?
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