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Economic Systems Hauwa

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Economic Systems Hauwa
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  • Most economic decisions are governed by customs or beliefs. Practiced in villages around the world.
  • Economic Systems: Traditional
  • Governed by supply and demand, has free enterprise, and lets individuals make decisions. Most resources owned by private citizens. Practiced in capitalist countries.
  • Economic Systems: Market 
  • The government makes all decisions and sets all prices. All sellers must meet quotes. Practiced in communist countries.
  • $100
  • Economic Systems: Command
  • $100
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