Which is characteristic of a traditional economy?

a. Communities tend to be fast-growing.
b. They are usually based on light industrial production.
c. They have a high standard of living.
d. Children tend to have the same jobs as their parents did.

Ans: d. Children tend to have the same jobs as their parents did.

Economics

You might also like to view...

Explain the concept of moral hazard. Give an example

What will be an ideal response?

Economics

"The distribution of income should be determined by the government" is an example of a normative economic statement

Indicate whether the statement is true or false

Economics