Tradition
Storyboard Text
- Tradition EconomyThe traditional economy relies on customs and traditions to make resources. Their resources are shared by everyone. They produce what they need to survive and not what they want. These groups normally don't have a government big enough to intervene with the economy.
- Market EconomyBuyers and producers decide what, when, and who to produce it to. Indivisuals owns all the resources and the government does not regulate the econoy.
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