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Traditional Economy Definition Examples Pros Cons
When traditional economies interact with market or command economies things change Cash takes on a more important role It enables those in the traditional economy to buy better equipment That makes their farming hunting or fishing more profitable When that happens they become a

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Traditional economy Wikipedia
29 10 2020 Traditional economies also create an environment where each member of the community is aware of the stakes involved and well aware of the role they play in contributing to a traditional economy

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traditional economy An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food often resulting in little economic growth Traditional economies are often found in rural regions with high levels of subsistence farming Countries that evolve their economies past the traditional level often

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Traditional Economy Definition Characteristics and
A traditional economy is an economic system based on custom culture and history that still exists today This can be the primary economic system of a region or community Alternatively a traditional economy can functional alongside a modern economic system such as a market economy The following are illustrative examples of a traditional economy

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What Is a Traditional Economy Let s imagine you and your spouse decide to take a vacation to some far off destination You decide to go to a third world country so that you can experience life

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Traditional Economy Definition Pros Cons Examples
A traditional economy is a family based or tribe based economy The traditional economy is localized and serves as a guide for people to complete their daily responsibilities It is a place where the experience of an elder is handed down to the worker so the job can be completed based on time honored traditions

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What is a Traditional Economy Definition
A traditional economy is defined as an economic system where customs traditions and believes that helped to shape the culture also help to shape the products and services that are offered These traditions and beliefs

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