Question

Describe the type of society that would use a traditional economic system. How are the three basic economic questions answered in this system?

Answer 1

Societies with traditional economies depend on agriculture, fishing, hunting, gathering, or some combination of them. They use barter instead of money. Most traditional economies operate in emerging markets and developing countries. They are often in Africa, Asia, Latin America, and the Middle East.

Step-by-step explanation:

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