Traditional Economic System?


A traditional economic system is used often in rural and farm-based areas. It is a system where traditions, beliefs and customs shape the good and products that are created. This is also known as subsistence economy.
1 Additional Answer Answer for: Traditional Economic System
What Is a Traditional Economic System?
A traditional economic system is one that is built on time-tested modes of exchange and commerce, such as agriculture and direct trade with community members and neighbors. According to, 400 million people still use traditional economic... More »
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