Read the paragraph below, and then decide which type of economy is being described. In this economy, community members typically use simple tools to plant and harvest crops. Food supplies are supplemented by hunting animals and gathering plant materials. Members trade with each other to obtain needed goods, as few people hold currency. Little economic growth occurs. What type of economy is being described?a. a traditional economy
b. a free market economy
c. a mixed-market economy
d. a command economy

The correct answer is A. Traditional economy.

Explanation

The traditional economy is a set of productive practices based on the subsistence of a community characterized by mainly manual and craft activities such as fishing, hunting, agriculture, and animal husbandry. Aditionally, in the traditional economy does not exist private property, and all members of the community work for the benefit of all equally. This economic model is characteristic of the first human communities after the transition from nomadism to sedentary lifestyle when the human discovered the agriculture. On the other hand, these communities used the barter to exchange goods with others, because they did not have money or an established exchange good to do those transactions. According to the previous information, it can be affirmed that the type of economy described in the question is A. the traditional economy.

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