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Traditional Economy Flashcards | StudBud

Explore/Traditional Economy

Traditional Economy

5 terms·StudBud Administration·439 plays

For westlake academy Econ project 2015

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Questions 5

Answers

1
From which economic system did the Traditional Economy System evolve from?
Command Economy
Basic Economy
Market Economy
Traditional Economy is the base economy
2
Where are you most likely to find a Traditional Economy?
Areas with dense populations
Developed countries
Southern Hemisphere
Developing countries
3
Every Traditional Economy is...
Different based on its region's unique customs
Communist
Socialist
The same
4
Traditional Economies are based off of...
Government regulations
Depends
The market value of products
Barter and trade
5
Traditional Economies typically revolve around...
Hunting, fishing, growing, and gathering
The stock market
Whatever the government wants it to
Bitcoin