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subsistence economies

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12y ago
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14h ago

barter economies where goods and services are exchanged without the use of money.

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Q: Traditional economies are also known as?
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Related questions

Does Adam smith's invisible hand also function in traditional and command economies?

no it didn't


Where are there traditional economies?

a traditional economy is a substance farming


What are the three main types of economies?

Command, traditional, and market economies


Do traditional economies have one leader?

Yes it does


What is the locations of traditional economies?

Mostly Africa.


Why are there so few traditional economies in the world today?

Traditional economies lead to less economic prosperity than capitalist and planned economies because of the efficiency of industrial production. As a result, people are voting with their feet and wallets to leave traditional economies and embrace capitalism or some other form of industrial economy.


What are the main features of a 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 develop into market economies or command economies.


What countries have traditional economies?

United States of America y Mexico


What countries have command traditional market economies?

many many many :)


The most accepted argument in favor of market economies is their efficiency The argument most accepted in favor of command economies is the belief that they are?

More Traditional


Many rural parts of less developed countries have traditional economies?

True


Pre-Colombian economies in North America are an example of a economy.?

Traditional economy