Question

Read the paragraph below, and then decide which type of economy is being described. in this economy, community members typically use simple tools to plant and harvest crops. food supplies are supplemented by hunting animals and gathering plant materials. members trade with each other to obtain needed goods, as few people hold currency. little economic growth occurs. what type of economy is being described? a traditional economy a free market economy a mixed-market economy a command economy

Answer 1

The type of economy that is being described is a traditional economy.

What is a Traditional Economy?

This refers to the type of economy where the historical traditions of a person are passed across and preserved and helps in production and supply.

Hence, we can see that from the given paragraph, there is a narration of a community that makes use of simple tools to plant and harvest crops and also in food supplies and this is a traditional economy.

Read more about traditional economy here:

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