digital0dna
contestada

Which type of market is the least likely to have an official currency? closed economy command economy traditional economy mixed market economy

Respuesta :

francocanacari

Answer:

It is called "traditional economy" to the set of ideas, systems and economic planning of a basic and customary cut, where decisions are made through a hierarchical structure where the group leader decides based on what he considers as his own and correct , based on religious, traditional or common sense issues.

This type of economy, characteristic of the totalitarian regimes of old, is not used today. Traces of this type of organization are only found in tribal societies in Africa and Asia.

ayokenny2001

The type of market is the least likely to have an official currency is traditional economy.

What is traditional economy?

A traditional economy is an economic system that is rooted in a culture, tradition and needs rather than being centred on profit motive.

The traditional economy is known to be original economic system in which it has factors that helps in shaping the services and goods in terms what the economy produces.

The factors that may influence traditional economy are :

  • Customs
  • Beliefs
  • Traditions
  • Culture

Hence, the type of market is the least likely to have an official currency is traditional economy.

Learn more about traditional economy here : https://brainly.com/question/2556322

Otras preguntas