In traditional economies, economic behaviour is
A)based primarily on custom and habit.
B)largely determined by a central authority.
C)random and unpredictable.
D)directed only by self interest.
E)affected by elements of tradition, government command, and market incentives.

Question

Quizplus · Accepted Answer

Traditional economies rely on customs, traditions, and habits to make economic decisions, rather than central authority or market incentives.

In Traditional Economies, Economic Behaviour Is