203,655 views
24 votes
24 votes
In the ________________ economies, history, culture, and past actions determine the answers to the three economic questions. Group of answer choices

User Andrew Chelix
by
3.3k points

1 Answer

19 votes
19 votes

Answer:

Traditional.

Step-by-step explanation:

Traditional economy is an economic system in which traditions and customs determine the practice of using limited resources. It is the oldest economic system of the world. In a traditional economy, land and capital are in common ownership, and the main economic problems of society - what, how and for whom to produce - are solved mainly on the basis of traditional tribal or semi-feudal hierarchical relations between people. This type of economy has survived in underdeveloped and industrially developing countries, in which socioeconomic stagnation is pronounced, society seeks to maintain the status quo.

User Erik Kaplun
by
3.3k points