Tradition-based economies have all of the following characteristics except:
A) Profit-taking because of their monopoly status in local or regional markets
B) Businesspeople know each other and are parts of local communities
C) Legal recourses in disputes are rare
D) Are to be found in rural sectors of industrialized markets

Question

Quizplus · Accepted Answer

Tradition-based economies typically do not focus on profit-taking due to monopoly status; instead, they are characterized by practices that are rooted in tradition, community involvement, and less reliance on formal legal systems for dispute resolution. They are often found in rural areas of both developing and industrialized countries.

Tradition-Based Economies Have All of the Following Characteristics Except