All categories

3 years ago

How are traditional economies like free-market economies?

Business

2 answers:

shutvik [7]3 years ago

7 0

The last one. hope it helps!

koban [17]3 years ago

7 0

The option D is correct.

Traditional economies are like free-market economies when both have no international trade.

Further Explanation:

Traditional Economies:

Traditional economies are those types of economies in which agricultural products are exchanged. Money is not invented at this time, the people use the barter system of exchange. In this exchange of barter system, for example, one kilogram of wheat is exchanged with same amount of rice.

Free- market Economies:

Free – market economies are those types of economies in which all types of products are exchanged with the help of money. In this type of economies, there is little intervention of government. But there is no international trade. All the transactions have done within the boundaries of the country.

Justification for the correct and incorrect answer:

Both are agricultural in nature: This option is incorrect.

Traditional economies include only agricultural products, but free-market economies include all types of goods. This statement is not correct.

Both are considered subsistence economies: This option is incorrect.

This statement is incorrect for both types of economies. Subsistence economies are those types of economies in which only natural resources are used. But in both types of economies, the natural resources are not used.

Both have no government regulation: This option is incorrect.

Traditional economies have full government regulation. In free-market economies, there is little government regulation. This statement is incorrect.

Both have no international trade: This option is correct.

Traditional economies usebarter system, as in this case the international trade is not possible. In free-market economies do not have international trade. This option is correct.

Learn more:

1. Learn more about the inflation rate and economy

brainly.com/question/3310349

2. Learn more about the demand curve

brainly.com/question/8794304

3. Learn more about Iceland economy

brainly.com/question/3640343

Answer details:

Grade: High School

Subject: Economics

Chapter: Types of economies

Keywords:traditional economies, free-market economies, agricultural, nature, subsistence economies, no government regulation, no international trade, exchanged, barter system.

You might be interested in

Afina-wow [57]

Similar to a stock split, a stock dividend also distributes additional shares of stock to existing stockholders on a pro rata basis at no cost to the stockholders.

A stock split is a decision made by the board of directors of a firm to issue more shares to present owners in order to increase the number of shares outstanding.

A stock split is a division of issued shares in a ratio determined by the company, whereas a stock dividend is a dividend paid in the form of extra shares. While in a stock split, already issued shares are divided in accordance with a predetermined ratio, a stock dividend gives stockholders extra shares.

To know more about Stock Split here

brainly.com/question/24080551

#SPJ4

6 0

1 year ago

The manufacturing overhead budget at Cutchin Corporation is based on budgeted direct labor-hours. The direct labor budget indica

Setler [38]

Answer:

$59,080

Explanation:

The calculation of September cash disbursements is shown below:-

September cash disbursement = Company's budgeted fixed manufacturing overhead - Depreciation + Variable manufacturing overhead

= $43,120 - $3,640 + $7.00 × 2,800

= $43,120 - $3,640 + $19,600

= $62,720 - $3,640

= $59,080

Therefore for computing the September cash disbursement we simply applied the above formula.

4 0

3 years ago

Please select the best answer from the choices provided A situation in which quantity demanded is greater than quantity supplied

Black_prince [1.1K]

A situation in which quantity demanded is greater than quantity supplied best describes shortage. Shortage is when any product or service lacks the means to provide or satisfy its demand. A shortage in the product or service usually results to a price increase. On the other hand, a surplus results to a price decrease.

5 0

3 years ago

Read 2 more answers

A $25,000 bank loan is to be repaid in equal yearly payment over 15 years at an effective annual interest rate of 7%. you did th

Anon25 [30]

¿ʇuǝɯʎɐd ɥʇ8 ɹnoʎ ǝpɐɯ noʎ ɹǝʇɟɐ ןɐdıɔuıɹd pıɐdun ǝɥʇ sı ʇɐɥʍ ˙5472$ sı ʇuǝɯʎɐd ןɐnuuɐ ɹnoʎ ʇɐɥʇ punoɟ puɐ uoıʇɐןnɔןɐɔ ǝɥʇ pıp noʎ ˙%7 ɟo ǝʇɐɹ ʇsǝɹǝʇuı ןɐnuuɐ ǝʌıʇɔǝɟɟǝ uɐ ʇɐ sɹɐǝʎ 51 ɹǝʌo ʇuǝɯʎɐd ʎןɹɐǝʎ ןɐnbǝ uı pıɐdǝɹ ǝq oʇ sı uɐoן ʞuɐq 000'52$ ɐ

8 0

3 years ago

Paul pierce is busy working with other managers evaluating the products and businesses making up their company. paul is engaged

garri49 [273]

Paul Pierce is occupied assessing the firms and items that make up their corporation alongside other management. Paul is analyzing his Portfolio Analysis.

Portfolio Analysis is one of the areas of investment management that allows market participants to analyze and assess the performance of a portfolio (equities, bonds, alternative investments, etc.) with the goal of measuring performance on a relative and absolute basis, as well as its associated risks, and also measures how likely it is of meeting the goals and objectives of a given investment mandate. A corporation that sells a variety of goods and services must perform a portfolio analysis on a regular basis. This entails examining each product independently in terms of its profitability, contribution to revenue, and room for expansion. The identification of items that are not at all lucrative or perform poorly within the group is made easier by this study.

To learn more about Portfolio Analysis here

brainly.com/question/28148314

#SPJ4

3 0

1 year ago