Prepayment definition: A prepayment is a payment that you make before you receive goods or services, or before a... | Meaning, pronunciation, translations and examples
A traditional economy is an economic system where decisions are  based on customs, beliefs, or religion within a social community.  People work together to produce goods to â¦ meet their needs, and  share with family. They trade with their community/family with  their excess.
1 an economic system in which the government controls and regulates production, distribution, prices, etc.  A command economy is an economic method where the price and supply of products are set and regulated by the government. The command economy is a key feature of a communist society. A command economy is when the government owns all the businesses, make all the prices,and tell who gets to work there(under option).