answersLogoWhite

0


Best Answer

"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.

User Avatar

Wiki User

8y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can a traditional economy be unpredictable?
Write your answer...
Submit
Still have questions?
magnify glass
imp