xThe answer about the Traditional Economy is explained below.
Explanation:
A traditional economy is an economic system in which traditions, customs and beliefs are very important. These customs, traditions and beliefs make the system and shape the goods and services that the economy produces.
The rules and manner of the distribution of the goods and services are also defined or shaped by such customs, traditions and beliefs.
The economic decisions are generally based on families, clans, tribes or communities in this type of economic system.
This type of system is usually rural and farm based.
In such type of systems, there is a very little change over time. Traditional economies try to stick with their base and traditions and do not change much over time.
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