Compare and contrast traditional economy and and a command economy

Question

History

Emery Pratt

13 February, 05:28

Compare and contrast traditional economy and and a command economy

+4

Answers (1)

Know the Answer?

Joanna Oconnor · 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.