Question

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. Traditional economy

Step-by-step explanation:

• The economy that is shaped by the religion and the belief system of the people are considered to be a form of the traditional economy and is based on the set of values ad the belief systems that belong to the ancestral and the customs and how the ways of the life are formed by the people.