Which basic economic goals can be achieved easily in a traditional economy which Cannot explain?

Which basic economic goals can be achieved easily in a traditional economy which Cannot explain?

Answer: Economy equity can be achieved easily in traditional economy as people work for entire community. Goals of economic growth , economic security and economic efficiency are not achieved as there is no variety , and very less innovation.

Which basic economic goals can be achieved easily in a traditional economy which Cannot explain quizlet?

Needs are basic economic goals that can be achieved easily in a traditional economy. And wants are not.

What economic characteristics does a centrally planned economy oppose?

A centrally planned economy oppose these basic economic characteristics- Property owned by private individuals, Market pricing determination by supply and demand forces, encouragement of competition among the companies and providing a wide range of choice to consumer.

What basic goals can be achieved easily in a traditional economy?

Economy equity can be achieved easily in traditional economy as people work for entire community. Goals of economic growth , economic security and economic efficiency are not achieved as there is no variety , and very less innovation.

What is another name for traditional economy?

Also known as a subsistence economy, a traditional economy is defined by bartering and trading.

Which economic goal is most important in a command economy?

Its goal is to supply enough food, housing, and other basics to meet the needs of everyone in the country. It also sets national priorities. These include mobilizing for war or generating robust economic growth. The government owns monopoly businesses.

What is the difference between free market and command economy?

A free market economy is a market system whereby the pricing of goods and services is primarily determined by the sellers and buyers, and is hence based on demand and supply. On the other hand, a command economy is an economy whereby the market system is fully controlled by the government.