Select all that apply. Which of the following are examples of a traditional economic system?

Central planners choose the factories that will produce the goods.
Everyone shares in the work.
It is based on agriculture, handicraft production, and trade.
Little changes from generation to generation.
Goods are produced and distributed is determined by custom and tradition.

Societies with traditional economies depend on agriculture, fishing, hunting, gathering, or some combination of them. They use barter instead of money. Most traditional economies operate in emerging markets and developing countries. They are often in Africa, Asia, Latin America, and the Middle East.

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