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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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