How does a traditional economy differ from a market economy?
Responses
A In a traditional system, economic decisions are based on custom.In a traditional system, economic decisions are based on custom.
B In a market system, the government answers the three basic questions.In a market system, the government answers the three basic questions.
C In a market system, a central authority owns the factors of production.In a market system, a central authority owns the factors of production.
D In a traditional system, a great variety of goods and services are available.