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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.
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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
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