Question

In a traditional economy, how are economic

decisions about consumption, savings, and
production made?

Answer 1

✔Answer

✏A traditional economy is a system that relies on customs, history, and time-honored beliefs. Tradition guides economic decisions such as production and distribution. Societies with traditional economies depend on agriculture, fishing, hunting, gathering, or some combination of them. They use barter instead of money.

Hope it helps.❤