Question
For this question: A. Define the 'economic problem' and explain how tradition (not markets or command) works to solve it (be sure to use examples
For this question: A. Define the 'economic problem' and explain how tradition (not
markets or command) works to solve it (be sure to use examples drawn from all the
relevant the readings to date). B. Explain why utilizing tradition to solve the distribution
aspect of the economic problem (e.g., reciprocity) faces limitations when society
reaches a certain size and hence needs to be supplemented with other solutions. C.
Explore how and why tradition still plays a vital role in our economic solution given that
we rely primarily upon the market and command to solve the economic problem in the
USA.
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