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gogolik [260]
3 years ago
8

What factor influences economic decision-making in a traditional economy?

History
1 answer:
sleet_krkn [62]3 years ago
8 0

Answer:

Tradition is that cardinal factor. It determines production and distribution. Traditional societies are based on agriculture, fishing, hunting, gathering or a combination of them. Customs, history and old beliefs are major criteria in traditional economies. There is no law of supply and demand. Individuals just do what their parents do.

Explanation:

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Valuable goods like cotton were essentially the main drivers of conflict between European Countries in the Americas.

The reason why European Countries established colonies in the Americas in the first place was to obtain valuable goods that could only be produced or found there: goods like cotton, rice and sugarcane.

The possession of territories were these goods were produced often resulted in armed conflict. The French-Indian war, which occurred two decades before the American Revolution, is an example.

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6 0
4 years ago
Read 2 more answers
1. How would you summarize How to become a United States Presidential Candidate
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Explanation:

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