Question

How are traditional and market economies the same

Answer 1

A traditional economy is a system that relies on customs, history, and time-honored beliefs. Tradition guides economic decisions such as production and distribution. ... 2 A market economy is a system where the laws of supply and demand direct the production of goods and services.

Answer 2

There are several similarities: Neither economy is based on "market forces" as we understand them today.... In a traditional economy, culture determines that only certain kinds of goods can be produced; in a command economy, the centralized authority determines production.