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what is tradition based off
traditions that ancestors have passed down for generations
what does traditon have
tradition has all different type of traditional traditions that have gotten passed down from generations and ansestors
types of economic systems
traditional market command
what is market based off
consumecrs choices
what does market have
they have more freedom and are able to own their buissnesses privatly
do all countries have only one economy
no they can have a little sliver of a different economy in their economic system
what is command based off
goverments decisions
command has
goverment control them and goverment owns buissnesses unlike market
what does tarrif mean
tarrif means you have to pay more for less
what is mixed economys
most moderen countrys with more than one economy
what does mixed have
mixed has modern countrys that have multiple types of economic systems with every country not having only one economic systems but having atleast a little sliver of each in each like command can have a little market i n it
does gov control in mixed
yes in mixed goverment controls certaint parts of the economy
what does embargo mean
embargo means you cant trade with someone
what does europe have the same of
currency