Question

Describe the type of society that would use a traditional economic system. How are the three basic economic questions answered in this system?

Answer 1

Answer:

The type of society that uses a traditional economic system would typically be an ethnic group or tribe. The traditional system is not typically used on a national level. Traditional economic systems answer basic economic questions by use of ritual, habit, or custom.

Explanation:

Answer 2

Answer:

Every society, regardless of its political structure, must develop an economic system to determine how to use its limited productive resources to answer the three basic economic questions of what, how, and for whom to produce

Explanation: