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 In a traditional economy, tools that are used are usually outdated.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
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
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 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 »
Difficulty: Easy
Explore this Topic
One advantage of a traditional economy is that it tends to be more stable than a market economy. Traditional economies are based on tradition and custom that guide ...
Traditional economy is an economy that is based around traditions and basic survival skills. The Inuit people is an example of traditional economy, because they ...
The economy of the country states the financial stability of a certain country. In traditional economy, resources are allocated by inheritance. An advantage of ...
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014