G kahoot - Google Sea.. K! Kahoot! | Learning. Classwork K! Log in - Kahoot! K! Play Kahoot! - Enter. Questions/ Vocab/Main Idea Notes Traditional Economy is based on the customs and traditions of a country or tribe. Strengths Traditional set economic rules for all members of community, stable, predictable, continuous Weaknesses discourages new ideas, stagnation and lack of progress Command Economy government decides everything gov controls factors of production Command Economic Questions What to produce is decided by the government, how to produce is decided by the government, for whom to produce is decided by the gov usually a class reward system capable of dramatic change in a short time, health and public services available at little or no costs, "equality" does not meet wants and needs of people, lacks effective incentives to work, large bureaucracy, new and different ideas discouraged Market Economy Questions what to produce is what people want to by and sell, how to produce in supply and demand, for whom to produce is for consumers adjust to change gradually, individual freedom, lack of ing, and aing.com chrome extension://.. G kahoot - Google Sea.. K! Kahoot! | Learning. Classwork K! Log in - Kahoot! K! Play Kahoot! - Enter. Easel government interference, decentralized decision making, and a Cornell Notes variety of goods and services. rewards only productive resources, must guard against market Market Weaknesses failures Mixed Economy some individual freedom, some government control. Questions answered by the government and individuals. Individuals own most resources and determine what and how to produce. Government regulates certain industries. Almost all countries are mixed. D M Sign out ctl