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

Effectiveness of world bank in promotion of development, Define the effecti...

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

Price elasticity of demand, Aska) Explain why each of the following factors...

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

Introduction to business economic, Ask question different between Mar...

Ask question different between Marginalism & incrementalism #Minimum 100 words accepted#

Hard and Soft HR, my fgeind lewis wants ro know about hard and soft hr and ...

my fgeind lewis wants ro know about hard and soft hr and whats good and whats bad about it so cabn u answer pelase

Social economic and non economic factor in development, What are the social...

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

Elasticity of Demand, Question #1 A baseball team is trying to predict tick...

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 economic partnership agreement, Problem 1: "African Caribbean a...

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

Primary and Secondary Markets, What would primary markets look like in abse...

What would primary markets look like in absence of secondary markets?

Traditional Theory Of Profit Maximization, Do you agree with the traditiona...

Do you agree with the traditional theory that assumes profit maximization as sole objective of a business firm?

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