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

Question

Quizplus · Accepted Answer

A traditional economic system relies on customs, traditions, and beliefs to make economic decisions rather than individual choice or government intervention. This type of system is often found in less developed countries and is based on agriculture, hunting, and gathering.

An Economic System That Relies Primarily Upon Custom and Habit