Question

in what economic system does habit and custom determine economic rules? A. Capitalism B. Socialism C. Mixed economy D. Traditional economy

Answer 1

A traditional economy is the economic system where habit and custom determine economic rules.

Step-by-step explanation:

In a traditional economy, habit and custom determine economic rules. Traditional economies organize their economic affairs based on tradition, where occupations stay in the family and most families are farmers who grow crops using traditional methods. What is produced is what is consumed, and there is little economic progress or development.

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