Question

3 situation for traditional economy ​

Answer 1

Explanation:

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. ... A mixed economy combines the characteristics of the other three.

There are three main types of economies: free market, command, and mixed. The chart below compares free-market and command economies; mixed economies are a combination of the two. Individuals and businesses make their own economic decisions.

Answer 2

Answer:

Traditional economies are often based on one or a few of agriculture, hunting, fishing, and gathering. Barter and trade is often used in place of money. There is rarely a surplus produced. In other words, most of the goods and services are fully used.

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