Question

The following statements describe a certain country's economy. What type of economy does this country have?
I. Most citizens farm at the subsistence level.
II. Citizens barter with each other for needed items.
III. Doctors and professionals often accept food or other goods in exchange for services.
A.
a market economy
B.
a traditional economy
C.
a planned economy
D.
a mixed economy

Please select the best answer from the choices provided.

A
B
C
D

Answer 1

B

These characteristics—subsistence farming, barter, and payment in goods—are typical of a traditional economy.