Who determines what is produced in a traditional economy?

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2026-08-21 12:16

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In a traditional economy, production is determined by customs, traditions, and social habits. Communities rely on ancestral methods and practices to decide what goods and services to produce, often based on the needs of the community and the availability of resources. This system typically emphasizes subsistence farming, hunting, and gathering, with little emphasis on market forces or technological innovation. Decision-making is often collective, reflecting the values and practices passed down through generations.

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