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Type: Multiple-Choice
Category: Economics
Level: Grade 12
Author: pecroom
Last Modified: 18 days ago

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Economics Question

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Grade 12 Economics

Which of the following correctly describes a traditional economy?
  1. Buyers and sellers decide what to produce.
  2. The U.S. is an example of a traditional economy.
  3. The basic economic questions are answered based on ritual, habit or custom.
  4. A central planning authority decides what goods and services to produce and how to produce them.
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