Jobs are passed down from one generation to another.

Machinery and technology are not used; only primitive tools.

Participants are trying to provide for the basic needs of life.

Which economic system is described?

Respuesta :

Answer:

Traditional economy.

Explanation:

The traditional economy is one in which the economic actors of society carry out basic tasks or activities, whose primary objective is the subsistence of the group, with no intention of accumulating capital or generating wealth.

In these economies, which are based on traditional, religious concepts or the will of the social leader, there is no concept of money as a means of exchange, with work and things in general having a value that is obtained through barter or exchange.