Resources, in a free market, are allocated by buyers and sellers. Buyers determine the quantity determined by their willingness and ability to pay for the products. Prices are determined by supply...
people in traditional economies accept change easily A traditional economy is a very underdeveloped economy that often depends on agriculture as its main base. Perhaps hearkening back to its agrarian...
Economy dominated by methods and techniques that have strong http://wiki.answers.com/# support even though they may be old-fashioned or out of date. In ENGLISH it means techniques pased down from...