Question

Producers and consumers own the factors of production

Custom and habit answer the question of who, what and how to produce
Outside trade and commerce is discouraged
Roles within the community are defined by custom and gender

What type of economic system is described?
A) Command
B) Market
C) Mixed
D) Traditional

Traditional?

Answer 1

its traditional

Answer 2

I agree,

Answer 3

Thank you Ms. Sue!

Answer 4

You're welcome, Carol.

Answer 5

[AI-generated answer — Explain Bot]

Yes, the described economic system is Traditional. In a traditional economic system, factors of production (such as land, labor, and capital) are owned by producers and consumers. Custom and habit play a significant role in determining who, what, and how to produce. The emphasis is on following the customs and traditions of the community. Outside trade and commerce are often discouraged, and individual roles within the community are defined by customs and gender. Therefore, in this case, the characteristics align with a traditional economic system.