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31 May, 16:35

Describe the type of society that would use a traditional economic system. How are three basic economic questions answered in this system

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  1. 31 May, 16:40
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    Several fundamental types of economic systems exist to answer the three questions of what, how, and for whom to produce: traditional, command, market, and mixed ... They determine such things as which goods and services to produce, their prices, and wage rates.
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