An Economic System That Relies Primarily Upon Custom and Habit

question 110

Multiple Choice

An economic system that relies primarily upon custom and habit in economic decision making is referred to as a

• A)market system.
• B)traditional system.
• C)command system.
• D)mixed system.
• E)communist system.

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Definitions:

Securities Commissions

Regulatory agencies responsible for enforcing laws concerning securities and the stock market to protect investors.

Securities Markets

The financial marketplaces where securities, such as stocks and bonds, are issued and traded.

Compulsory Jurisdiction

The authority given to a judicial body by which it has the right to hear and decide cases within a particular territory without the need for agreement from the parties involved.

Domestic Law

The body of law that governs activities within a specific country or state, as opposed to international law.