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they do because they do their things in a different way
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Is Madagascar a traditional economy?
Yes the country of Madagascar has a traditional economy but it performs very poorly. The economy is primarily agricultural based.
What type of industries are included in a traditional economy?
When one defines a "traditional economy" it usually includes manufacturing, construction, farming, and very limited when it comes to "service" industry. In recent years we have moved to a predominantly "service" based economy. The exact opposite of a traditional economy.
What is the governments role in the traditional economy?
This answer is that the governments role is very little
What the government role in the traditional economy?
This answer is that the governments role is very little
What is the government's role in the Traditional economy?
This answer is that the governments role is very little
Why do very few places or societies have traditions?
they do because they do their things in a different way
What type of economy does Bhutan use?
Bhutan has a traditional economy.It is a very little devloped country so it's economy is very little devloped
What type of economy does Honduras have?
The economy in Honduras is just about the same as in other places. It has businesses, banks, and its own form of money.
What is traditional economy?
people in traditional economies accept change easilyA traditional economy is a very underdeveloped economy that often depends on agriculture as its main base. Perhaps hearkening back to its agrarian roots, a traditional economy is also known as a subsistence economy.In order to fully understand a traditional economy, it is necessary to first define the three main economic systems. Market economies are so called because prices are determined by market prices. In command economies, prices and supplies are determined by the government. In traditional economies, there may be no prices whatsoever.A traditional economy is a system where traditions, customs and belief systems determine its operation. In that state, this type of economic system may go unchanged for quite some time. Once this economy does begin to change, it usually morphs into one of the other systems mentioned previously.One of the unfortunate hallmarks of a traditional economy is its relation to poverty. Indeed, most of those inside of such a system find themselves mired in poverty their entire lives. This is significant. In his book titled Capitalism at the Crossroads, Stuart L. Hart notes that 4 billion people may be trapped in traditional economies.While there may be no nation on Earth today that has a purely traditional economy, the sheer number of the world's population in such economic systems indicates there are wide swaths of the world population in "sub-economies," primarily in the Third World.Though these economies may not be the official standard for the country, they do tend to keep any available wealth in the hands of a very few. In many cases, a traditional economy may have no official currency whatsoever. The economy works through bartering and trading, and there is very little of that because so little surplus is produced. In traditional economies, most produce only enough to keep their families alive. Any surplus in a traditional economy may go to a landowner or ruling authority.The businesses make the decisions.
How was safavid culture part of the empires economy?
Safavid culture played a role in the empire's economy because 'Abbas encouraged the manufacturing of traditional products. Handwoven carpets were very popular. The Safavids were admired for their skills in making ceramics and metal goods.
A major characteristic of most traditional societies is that?
There are three major characteristics behind traditional societies. These include strong family units, a central role of religion, and diminished women's rights as pretext behind the first two reasons.
Can a traditional economy be unpredictable?
"Unpredictable" is an evaluation of a certain scenario panning out. As the question is phrased, no particular scenario in a traditional economy is being evaluated, some of which are completely predictable, but others which are mildly or extremely unpredictable.The organization and maintenance of trade partners under a traditional economy -- predictable. Most people in a traditional economy live in very small and localized communities. As a result, their choices for interaction are very few and easily modeled.The exchange values between commodities in a traditional economy -- mildly unpredictable. Since traditional economies are based on barter, the value of a particular good is motivated more by negotiation and the demands at the moment. For example, in a time a poor harvests, a bushel of wheat may be worth more shoes than it would be in a time of plenty. However, the price will almost never become absolutely outrageous because otherwise the shoemaker will go into his agricultural production.Agricultural and resource yields in a traditional economy -- extremely unpredictable. Since modern agricultural techniques are not used, famines are quite common. Since modern geologic surveys are not performed, the likelihood of finding metals or rare woods is very haphazard. This leads to high levels of unpredictability.
