An economic system that relies primarily upon custom and habit in economic decision making is a
A)market system.
B)communist system.
C)traditional system.
D)mixed system.
E)command system.

Question

Quizplus · Accepted Answer

A traditional economic system relies mainly on customs and habits in making economic decisions. Such a system is typically found in rural, agricultural societies where people make decisions based on what their ancestors did and what has worked in the past. The system is largely self-sufficient, with families working together to produce what they need to survive. There is little formal trade, and the economy is often based on bartering.

An Economic System That Relies Primarily Upon Custom and Habit