Question

Question 13 of 13

In which type of economy do people make economic decisions based on their group's ancestral customs and ways of life?

A.
command economy

B.
market economy

C.
mixed economy

D.
traditional economy

Answer 1

D. A traditional economy.

In a "Command" Economy, the economy does what the name suggests -- whatever the government commands it. In a "Market" Economy, its the exact opposite: people do whatever they see fit, and the economy is shaped freely. A "Mixed" Economy is a combination of any of the styles of economy.