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Economic Systems An economic system is based on how a country answers the three economic questions; what to produce, for whom to produce, and how much to produce. There are three different types of economic systems: traditional, command, and market economies. An example of a traditional economy would be the Australian Aborigine culture, in a command economy: Cuban culture, and in a market economy: Canada . In a traditional economy the three questions originate from “custom and tradition” (Pennington 24). In Australian Aborigine culture hunting and gathering are roles passed down from generation to generation.
Approximate Word count = 358 Approximate Pages = 1.4 (250 words per page double spaced)
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