The characteristic of a traditional economy is that "It revolves around the family unit." Therefore, the correct option is D.
Traditional economies are based on customs and traditions, often passed down through families.
Family units play a central role in production, consumption, and social organization.
Goods and services are often produced for subsistence rather than profit, focusing on fulfilling basic needs within the family or community.
Innovation and change are not actively encouraged, as preserving traditions is prioritized.
Light industrial production may exist, but it's usually for basic necessities and not large-scale manufacturing.
High standards of living are not typically found in traditional economies due to limited resources and focus on subsistence.
Therefore, the defining characteristic of a traditional economy is its strong reliance on the family unit as the primary economic and social structure.
Option D is the right choice.
Question:
Which of the following is a characteristic of a traditional economy?
A. It encourages innovation and change
B. It is usually based on light industrial production.
C. It has a high standard of living.
D. It revolves around the family unit