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Social Science Clinic => Economics => Microeconomics => Topic started by: wqwpfwpoefnpwenf on Oct 12, 2022

Title: An economic system that relies primarily upon custom and habit in economic decision making is referred to as a
Post by: wqwpfwpoefnpwenf on Oct 12, 2022

Question 1

Money facilitates trade and specialization by
◦ increasing the value of gold.
◦ allowing an efficient barter system to develop.
◦ reducing the shift of resources between uses.
◦ eliminating the need for barter.
◦ providing employment for coin makers.

Question 2

An economic system that relies primarily upon custom and habit in economic decision making is referred to as a
◦ command system.
◦ market system.
◦ mixed system.
◦ traditional system.
◦ communist system.

Title: An economic system that relies primarily upon custom and habit in economic decision making is referred to as a
Post by: mamboz on Oct 12, 2022

Answer 1

eliminating the need for barter.

Answer 2

traditional system.