Question

Producers and consumers own the factors of production
Custom and habit answer the question of who, what and how to produce
Outside trade and commerce is discouraged
Roles within the community are defined by custom and gender
What type of economic system is described?


A)
Command


B)
Market


C)
Mixed


D)
Traditional

Answer 1

@ganeshie8 @k12andstudyislandhelp

Answer 2

What do you think it is? @HappySprout

Answer 3

I was thinking it was A but not too sure

Answer 4

It's not A.

Answer 5

Ok then it may be C?

Answer 6

No.

Answer 7

I did actually but couldn't put my finger on it

Answer 8

Did you research the different markets?

Answer 9

Then what did you find.

Answer 10

I just found the definitions of the markets nothing useful to me

Answer 11

http://www.marketing-schools.org/types-of-marketing/traditional-marketing.html

Answer 12

Read that.

Answer 13

A traditional economy is an original economic system in which traditions, customs, and beliefs shape the goods and the products the society creates. Countries that use this type of economic system are often rural and farm-based. Also known as a subsistence economy, a traditional economy is defined by bartering and trading. Little surplus is produced, and if any excess goods are made, they are typically given to a ruling authority or landowner.

Answer 14

http://en.wikipedia.org/wiki/Traditional_economy

Answer 15

Oh ok I think I got it. D

Answer 16

Yes.

Answer 17

Thanks I have a thing I have to do and it has a lot of questions if you could answer them for me.

Answer 18

You're welcome.

Answer 19

:)

Answer 20

Ok 1 second

Answer 21

Make sure to post it in a new question.

Answer 22

Ok I'll tag you.

Answer 23

Ok.