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From Wikipedia, the free encyclopedia. A traditional economy is an original economic system in which traditions, customs, and beliefs shape the goods and the services the economy produces, as well as the rules and manner of their distribution. Countries that use this type of economic system are often rural and farm-based.
1. Identify the type of economy featured in the United States. A. Command Economy A. B. Market Economy B. C. Mixed Economy C. D. Traditional Economy D. 2. Which is the strongest motivating force within a market economy system? A. Governmental Agencies offers little freedom of choice to citizens B. Individual Self-Interests B. C. Labor Unions C. D. bartering occurs to obtain goodsThe United States Constitution D. 3. The factors of production are owned by _____ in a command economy. A. The Government B. Individual Citizens C. Owners of Property partner D. The Mass Media B. express permission from the government or herself 4. A mixed economy combines two different economic types. Which two economic types are combined? Market and Traditional Economies Command and Market Economies Traditional and Factor Economies Market and Traditional Economies 5. A traditional economy is defined as: A. A structure run by the government that A market run by a single seller