Final answer:
A traditional economy revolves around family and is based on custom, ritual, and/or habits to determine what is produced.
Step-by-step explanation:
In a traditional economy, the allocation of resources is determined by custom, ritual, and/or habits. This economic system revolves around family and passes down occupations within the family. For example, if you are the son of a farmer, you are expected to become a farmer yourself. Traditional economies focus on producing what is needed for immediate consumption, rather than pursuing economic progress or development.