Question

Samuel must work as a carpenter creating hand crafted wooden bowls and furniture that he will trade, without money, in the marketplace for grain for him and his 4 children. Which economic system does Samuel and his family live in? Communist Communist Socialist Socialist Free Market Free Market Traditional

Answer 1

Traditional

Step-by-step explanation:

Given that a traditional economic system is a form of an economic system that is characterized by distinct customs and traditions or history. It mostly exists in local or rural areas of the world. The most common economic activities are farming, hunting, and similar traditional activities. It is also comprised of a trade by the barter system.

Hence, in this case, the correct answer is TRADITIONAL ECONOMIC SYSTEM. This is because Samuel's transaction involves traditional activities such as Farming produces from the other person and hunting tools from him which is made by hand. Also, the transaction is going to involve a bartering system.