Question

Producers and consumers own the factors of production

• Custom and habit answer the question of who, what and how to produce

• Outside trade and commerce is discouraged

• Roles within the community are defined by custom and gender
.

What type of economic system is described?












A)
Command



B)
Market



C)
Mixed



D)
Traditional

Answer 1

What do you think it is. @Sunnyo

Answer 2

I think C

Answer 3

correct

Answer 4

http://www.shmoop.com/economic-systems/types.html

Answer 5

A mixed economic system combines elements of the market and command economy. Many economic decisions are made in the market by individuals. But the government also plays a role in the allocation and distribution of resources.

The United States today, like most advanced nations, is a mixed economy. The eternal question for mixed economies is just what the right mix between the public and private sectors of the economy should be.

Answer 6

I think C is wrong.

Answer 7

A traditional economic system is—here's a shocker—shaped by tradition. The work that people do, the goods and services they provide, how they use and exchange resources… all tend to follow long-established patterns. These economic systems are not very dynamic—things don’t change very much. Standards of living are static; individuals don’t enjoy much financial or occupational mobility. But economic behaviors and relationships are predictable. You know what you are supposed to do, who you trade with, and what to expect from others.

In many traditional economies, community interests take precedence over the individual. Individuals may be expected to combine their efforts and share equally in the proceeds of their labor. In other traditional economies, some sort of private property is respected, but it is restrained by a strong set of obligations that individuals owe to their community.

Today you can find traditional economic systems at work among Australian aborigines and some isolated tribes in the Amazon. In the past, they could be found everywhere—in the feudal agrarian villages of medieval Europe, for example.

Answer 8

I think it would rather be a traditional market.

Answer 9

@Sunnyo @paki
Why do you think it's C.

Answer 10

I just guessed it I have no idea what the answer is... ;-; I have a head ach......

Answer 11

I was thinking that it was D. I don't know why Paki thinks it's C.

Answer 12

am thinking C because in mixed market only the customer and producers have the mentioned factors... @Confluxepic

Answer 13

\(\color{blue}{\text{Originally Posted by}}\) @confluxepic
A traditional economic system is—here's a shocker—shaped by tradition. The work that people do, the goods and services they provide, how they use and exchange resources… all tend to follow long-established patterns. These economic systems are not very dynamic—things don’t change very much. Standards of living are static; individuals don’t enjoy much financial or occupational mobility. But economic behaviors and relationships are predictable. You know what you are supposed to do, who you trade with, and what to expect from others.

In many traditional economies, community interests take precedence over the individual. Individuals may be expected to combine their efforts and share equally in the proceeds of their labor. In other traditional economies, some sort of private property is respected, but it is restrained by a strong set of obligations that individuals owe to their community.

Today you can find traditional economic systems at work among Australian aborigines and some isolated tribes in the Amazon. In the past, they could be found everywhere—in the feudal agrarian villages of medieval Europe, for example.
\(\color{blue}{\text{End of Quote}}\)

Answer 14

The answer is D. Traditional

Answer 15

See.

Answer 16

I knew it.