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AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.2
What is one of the main challenges faced by traditional economies in today's globalized world?
Overreliance on government intervention.
Inefficiency due to competition and market forces.
Lack of cultural preservation and adaptation.
Limited economic growth and development.
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AP Microeconomics - 1.2 Resource Allocation and Economic Systems
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Traditional Economies
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About Us
About Fiveable
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Careers
Testimonials
Code of Conduct
Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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