Answer:
A traditional economy is a system that relies on customs, history, and time-honored beliefs. In this system, tradition guides economic decisions such as production and distribution. Traditional economies depend on agriculture, fishing, hunting, gathering, etc. They also use a barter system instead of money.
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<span>A trade policy which put large tariffs on imports into the United States is the </span>Smoot-Hawley Tariff of 1930
Answer: The Southern Colonies had an agricultural economy
Explanation: Most colonists lived on small family farms, but some owned large plantations that produced cash crops such as tobacco and rice. Many slaves worked on plantations.
