Question

What is traditional economic system?​

Answer 1

A traditional system is probably the most basic form of an economic system. A given community or group of people engage in different activities individually to produce goods or services that are required by the rest of the group. These activities are normally agriculture or hunting.

Answer 2

A traditional economy is an economic system in which traditions, customs, and beliefs help shape the goods and services the economy produces, as well as the rule and manner of their distribution. Countries that use this type of economic system are often rural and farm-based.

Step-by-step explanation:

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