Answer:
A family that has hunted or farmed for many years is often part of a Traditional Economy.
Often people are not free when they live in a Command Economy.
Adam smith wrote a book about competition and the Invisible Hand.
Capitalism is a very efficient economic system.
Something that encourages people to take an action is Incentive.
Adam smith believed governments should not be involved in Free Markets.
The choices the government makes create an economy. C
The Inuit society provides an example of a Traditional Economy.
The economic system where people have a say in government but where the government owns major industries is called Democratic Economy.
A place where people come together to buy or sell is a(n) Market.
n a(n) people are free to buy and sell whatever they want. A
The only pure economic system that really exist is a___ economy. D
Explanation:
