0
How is the Australian aborigine society in example of a traditional economy?
Wiki User
∙ 12y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What are the features of a mixed economy?
A mixed economy features a "mix" of features from traditional economies, market economies, AND command economies--usually the most advantageous features from each. For example, most mixed economies borrow three of the most advantageous characteristics of a market economy: pricing, private property, and individual self-interest. The United States is one example of a mixed economy.
What is an example of modern day traditional economic system?
There are no pure traditional economy in the World now. India is not a traditional economy. Many economies continue with traditional small scale/ cottage/ village industries limited by local markets as well as traditional small scale fragmented land farming, but most economies have modern industries and transport, growing urbanization. None of the countries can be strictly referred to as traditional economies. And, many of the countries are exporting and importing through cross border trade. Many are capitalist economies, often mixed economies. Some are relatively closed economies with communist or religious dictatorships. If you mean which countries have small scale traditional industries coexisting with modern industries, then most undeveloped and developing countries fall in this category. They include, beside India, Pakistan, Sri Lanka, Bangladesh, Nepal. Vietnam, Indonesia,. Myanmar, , Mauritius, several poor African countries. A traditional economy is an economic system in which resources are allocated by inheritance, and which has a strong social network and is based on primitive methods and tools. It is strongly connected to subsistence farming. Most countries that have historically had a traditional economy have replaced it with a command economy, market economy, or mixed economy. However, it is still found today in underdeveloped, agricultural parts of South America, Asia, and Africa. A traditional economy is where people produce most of what they need to survive. Hunting and gathering, farming, and herding cattle are the bases of traditional economy. People hunt for the food they eat or raise it themselves. Often they make their own clothing and tools. If they produce more food than they need, they trade the surplus, or extra food, for goods made by others.
What are some similarities between command and traditional economy?
In a command economy government agencies take the decisions regarding consumption production and distribution in other words allocation of resources . The classical example of command economy was the economy of erstwhile USSR- where major decisions were taken by the soviet planning commission. Traditional economy refers to economy in which primary sector- agriculture , mining , fishing , lumbering , animal husbandry etc, is dominant economic activity - in terms of share in GDP and employment.
Is the former USSR an example of the command economy?
The USSR had a command economy, Russia today has a free market economy.
What is a command economy system?
Command Economy is an example of Dictatorship.
Pre-Colombian economies in North America are an example of a economy.?
Traditional economy
What is trditional econimes?
A traditional economy is an economy based on the people's traditions. For example, if my dad was a blacksmith, I would be one too.
A sentence using the word aborigines?
Aborigines is the plural of aborigine. Aborigine is a noun meaning the original inhabitants or natives. Here are example sentences: "He spent one summer with Australian aborigines to learn their culture." "The Indians of the Americas are sometimes called aborigines."
What are the features of a mixed economy?
A mixed economy features a "mix" of features from traditional economies, market economies, AND command economies--usually the most advantageous features from each. For example, most mixed economies borrow three of the most advantageous characteristics of a market economy: pricing, private property, and individual self-interest. The United States is one example of a mixed economy.
What is an example of modern day traditional economic system?
There are no pure traditional economy in the World now. India is not a traditional economy. Many economies continue with traditional small scale/ cottage/ village industries limited by local markets as well as traditional small scale fragmented land farming, but most economies have modern industries and transport, growing urbanization. None of the countries can be strictly referred to as traditional economies. And, many of the countries are exporting and importing through cross border trade. Many are capitalist economies, often mixed economies. Some are relatively closed economies with communist or religious dictatorships. If you mean which countries have small scale traditional industries coexisting with modern industries, then most undeveloped and developing countries fall in this category. They include, beside India, Pakistan, Sri Lanka, Bangladesh, Nepal. Vietnam, Indonesia,. Myanmar, , Mauritius, several poor African countries. A traditional economy is an economic system in which resources are allocated by inheritance, and which has a strong social network and is based on primitive methods and tools. It is strongly connected to subsistence farming. Most countries that have historically had a traditional economy have replaced it with a command economy, market economy, or mixed economy. However, it is still found today in underdeveloped, agricultural parts of South America, Asia, and Africa. A traditional economy is where people produce most of what they need to survive. Hunting and gathering, farming, and herding cattle are the bases of traditional economy. People hunt for the food they eat or raise it themselves. Often they make their own clothing and tools. If they produce more food than they need, they trade the surplus, or extra food, for goods made by others.
What are some similarities between command and traditional economy?
In a command economy government agencies take the decisions regarding consumption production and distribution in other words allocation of resources . The classical example of command economy was the economy of erstwhile USSR- where major decisions were taken by the soviet planning commission. Traditional economy refers to economy in which primary sector- agriculture , mining , fishing , lumbering , animal husbandry etc, is dominant economic activity - in terms of share in GDP and employment.
Is the former USSR an example of the command economy?
The USSR had a command economy, Russia today has a free market economy.
What is a command economy system?
Command Economy is an example of Dictatorship.
What is the best example of a mixed economy?
the best example of a MIXED ECONOMY is the market economy and a command economy
What is an example of market economy that you use?
Now a days China is the big and best example of market economy that we are used.
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.
Communism is an example of a?
command economy
