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disadvantages
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he main drawback of the traditional economy is that it tends to discourage new ideas and new ways of doing
things. The strict roles in a traditional society have the effect of punishing people who act differently or break rules.
advantages
The main strength of a traditional economy is that everyone knows which role to play. Little uncertainty exists
over WHAT to produce.
disadvantages
A type of economy in which some central authority makes a wide range of decisions pertaining to production and wages.
Consumers cannot choose and only those goods and services are produced which are decided by the government.
Lack of profit motive may lead to firms being inefficient.
A disadvantage of a mixed economy is that the government will try to take over and not let the people have freedoms
the advantages of a mixed economy is they have more freedoms then others economy. they have a higher level of political state
A traditional economy is an economic system where decisions are based on customs beliefs, or religion
http://flashmedia.glynn.k12.ga.us/webpages/dlandinguin/files/economic%20systems.pdf
A mixed economic system allows a level of private economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims
some planned economy are cuba laos and north korea
Prices are kept under control and thus everybody can afford to consume goods and services.
http://en.wikipedia.org/wiki/Main_Page