Characteristics of a Traditional Economy?


There are several characteristics of a traditional economy. One is the predominance of subsistence agriculture. In a traditional economy, tools that are used are usually outdated. It is also based on customs and traditions.
Q&A Related to "Characteristics of a Traditional Economy?"
A. traditional economy. is an economy based on custom and tradition. The economic system in which resources are allocated by inheritance, has a strong social network and is based
In a traditional economy, a region or family is accustomed to
Traditional grammar is characterized by proper punctuation. The basic rule of punctuation requires that each sentence conclude with a punctuation mark, whether a period, a question
1.Which of the following is a characteristic of a traditional economy? D. Children tend to have the same jobs as their parents did. 2.The opportunity cost of a decision can be examined
1 Additional Answer Answer for: characteristics of a traditional economy
Characteristics of Traditional Economies
Traditional economies are underdeveloped economies that experience little economic growth. They tend to be rural and depend extensively on agricultural labor just to survive. Economies can develop from traditional to more sophisticated types, such as... More »
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