Traditional Economic System?

Answer

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.
Q&A Related to "Traditional Economic System?"
The history of traditional economic systems is the story of organic modes of exchange in closely knit communities. This was the dominant mode of exchange since Neolithic (early agricultural
http://www.ehow.com/about_6127754_traditional-econ...
Decision are made based on what has been done in the past. People organize their economic choices following custom and tradition.
http://wiki.answers.com/Q/What_is_traditional_econ...
A traditional economy is a system where traditions, customs and belief systems
http://www.chacha.com/question/what-is-a-tradition...
The three economic systems are communism, capitalism and free enterprise. In communism the state pretty much controls the people. In capitalism monopolies are formed. In free enterprise
http://www.ask.com/web-answers/Business/Finance/wh...
1 Additional Answer
Ask.com 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 EconomyWatch.com, 400 million people still use traditional economic... More »
Difficulty: Easy
Source: www.ehow.com
Explore this Topic
Economic System is addressed in three basic ways - How to,What to and for whom to produce.Japan Economic System is having great power all around the world.It follows ...
The economic system in the Philippines is classified as a newly industrialized economy. It does have an emerging market. Over the last few years it has the fastest ...
Economic systems help keep the world economy balanced and controlled. There are many types of economic systems but there are 4 basic classes. In the market economy ...
About -  Privacy -  Careers -  Ask Blog -  Mobile -  Help -  Feedback  -  Sitemap  © 2014 Ask.com