Answer:
Hi your question lack some vital information hence here is the complete question
traditional-
market-
socialist-
communist-
equal results for everyone
based on traditions and customs
based on demand and supply forces
controlled by the government
Answer :
- traditional - based on traditions and customs
- market - based on demand and supply forces
- socialist - equal results for everyone
- communist - controlled by the Government
Explanation:
Traditional Economy bases its production methods/patterns on traditional beliefs and ways of doing things in the economy there is usually no room for advanced methods of production
Market based economy allows the demand and supply forces determine the amount and the level of goods and services it will provide into the open market for consumption. every type of economy has its advantages and disadvantages as well. the socialist economy rewards every worker in such economy equally there is usually no room for improvement by the workers because of lack of incentives for good work done.
