Since the 18th century, the father of economics was the Scottish philosopher Adam Smith. We study economics to know more…
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A traditional economy is an economic system where traditions and customs are determined by the way commerce and trade are performed. Just like any other economic procedure, it has its own share of advantages and disadvantages.
Shortages and scarcity are very common market situations that arise from a variety of reasons. Understanding the difference between these two concepts is important because it can help you analyze the economics and manage your resources better.
Asian Financial Crisis 1997 Causes, Effects, & Facts | What caused the Asian Financial Crisis of 1997?