Question

Which economy is based on the traditions of the local population? Found mostly in areas where people grow food to eat (some African and Asian societies, Canadian Inuit, etc.)?
A. Command Economy
B. Market Economy
C. Macro Economy
D. Traditional Economy

Answer 1

Answer:

D. Traditional Economy

Explanation:

Well, a traditional economy is that in which customs, traditions, and beliefs are rich in developing the goods and services for the area. In other words, a traditional economy is one that is built around the way a society lives. The goods and services are determined based on the livelihood of the people.