Question

A traditional economy is an economy where ____________(1 point)
Responses

economic decisions are based on price signals from supply and demand forces.
economic decisions are based on price signals from supply and demand forces.

economic decisions are made by the government.
economic decisions are made by the government.

economic decisions are based on traditions, culture, and beliefs.
economic decisions are based on traditions, culture, and beliefs.

economic decisions are made by the government for some resources and are based on supply and demand forces for others.

Answer 1

A traditional economy is an economy where **economic decisions are based on traditions, culture, and beliefs.**