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?

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.

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.