Question

How would a traditional economy determine how to use the profits from a good harvest? HISTORY

Answer 1

Answer:

A traditional economy would determine how to use the profits from a good harvest by A: by asking community elders how they spent past profits

Explanation:

A traditional economy is oldest type of economic system whose motive is not profit. Traditional economies are mostly based on agriculture, hunting, fishing, and gathering. They replace money with Barter and trade. Surplus production is not done.

The people in this type of economic system only believe in their ancestors and elders. They believe only their elders are right and should not be questioned. Therefore, they continue doing things being practiced since the past and only ask their community elders of how to spend the profits in case there is good harvest.