Compare and contrast traditional economy and and a command economy

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Angelique Melton

16 February, 06:36

Compare and contrast traditional economy and and a command economy

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Byron Snow · Answer 1

A traditional economy is one where the production and distribution of goods is based on custom and cultural traditions. A command economy is one where the means of production are owned collectively, and decisions about what to produce and how goods are distributed are made by a centralized authority.