Characteristics of a Traditional Economy?

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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 In a traditional economy, tools that are used are usually outdated.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
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In a traditional economy, a region or family is accustomed to
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Understanding what traditional economy is can be important for those in certain finance fields. Traditional economy is found in most underdeveloped areas. You can find more information
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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
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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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