What countries have Traditional economic?

What are the traditional economic countries?

Many third world countries or developing countries have a traditional economy.

What type of economic system is found in many European countries?

The Type of Economic System that is found in many European countries is a Traditional economy

What country have tradiTional economic system?

I've been doing this in society and environment at the momentsome are;Ethiopia.Uganda.Most traditonal economic system countries are living in third world conditions

Is traditional economic activities are called early economic activities?

Yes, the traditional economic activities are the same as the ealy economic activities.

Who has a traditional economic system?

A traditional economic system would have to be a system based on the tradition of a particular region. that would imply that virtually every country has an economic system that is traditional.

What are the different economic system?

traditional economic system command economic system market economic system

What is the economic system in Kazakhstan?

Kazakhstan has a Traditional economy

In a traditional economic what are the economic decisions based largely on?

Customs and traditions.

What is the oldest economic system?

Traditional.

What are countries with traditional economy?

Traditional Economies Traditional economies refers to countries which have their economy based on the basic economic activities of hunting and gathering or farming.A traditional economy is basically an economic system in which resources are allocated by inheritance, and which has a strong social network and is based on indigenous technology and methods.Examples: Two countries which would be examples of this would be many of the African countries which use agriculture as their main basis for growing food and for jobs, in addition some Asian countries, such as Bangladesh and Burma also rely on farming (agriculture) as their main way for both employment and for producing food for the family and the nation.A couple of other African countries who would fit into this category would include Malawi and the Ivory Coast.Of Africa's 50 or so countries well over half of them would still use traditional ways of gathering and producing food even now in the year 2010.In Addition A traditional economy is one that, like the name suggests, stems from tradition. All the economic discussions are determined by habit and tradition. In this system, people know their place, if your family is a doctor, you will be too. There is little discrepancy about who will do what and how. Because of this however, new ideas or ways of doing things are scorned, thus there is little growth and the standard of living is lower.Entrepreneurs are very rarely found in a traditional economy, Life becomes very stable and predictable. This type of economy is best shown in the Eskimos in Alaska and the Amish people.

What do countries with traditional economies base their answers to economic questions on?

Countries with traditional economies base their answers to economic questions primarily on customs, traditions, and cultural practices. Economic activities are typically centered around subsistence farming, hunting, and gathering, with a strong reliance on barter systems rather than monetary transactions. Decisions about production and distribution are often guided by historical precedent and the needs of the community, emphasizing sustainability and the preservation of resources. This approach fosters a close-knit social structure where economic roles are often passed down through generations.

What are the three different economic system?