HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In a traditional economy, how are economic decisions made?
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Custom & habit
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Government planners
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Consumers & the market
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Combination of consumers and government planners
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Explanation:
Detailed explanation-1: -In a traditional economy, economic decisions are made by tradition and custom, rather than by markets or government. Usually, family elders or community leaders make the decisions about production, distribution and consumption of goods and services based on the needs and customs of the community.
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