Question

A traditional economy is an economy in which:

A. Culture and past practices determine which products are made and who makes those products.

B. People are motivated by prices and the profit incentive when deciding which products to make.

C. Government officials decide how much of each product society should make.

D. There is always enough goods and services to satisfy everyone's wants and needs.

Answer 1

A traditional economy is an economic system where culture and past practices drive the production and distribution of goods and services. Occupations stay within the family, and little economic progress or development takes place. Instead, the focus is on maintaining customs and traditions.

Step-by-step explanation:

A traditional economy is an economy in which culture and past practices determine which products are made and who makes those products. Occupations in a traditional economy stay in the family, and most families are farmers who grow crops using traditional methods. The goods that are produced are consumed by the same community. In a traditional economy, economic progress and development are limited because the focus is on following tradition rather than innovation.