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 is an example of a traditional economy?
There aren't many examples but Alaska is one.
"Bail out the banksters, and stick it to the middle class."
Tuareg of the Sahara
one is tax
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.
traditional economic system command economic system market economic system
traditional economic system command economic system market economic system
Traditional.
Kazakhstan has a Traditional economy
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.
traditional economic system command economic system market economic system
traditional economic system command economic system market economic system
Traditional.
Kazakhstan has a Traditional economy
An example of an economic system is Ray William Johnson
Traditional Economy.
NO. In a traditional economic system, the government does not involve itself with transactions, primarily since the barter system makes it difficult for the government to monitor transactions.
Traditional Economy.
traditional
What type of economic system does Cameroon, Africa have? (traditional, command, market, or mixed)
Agriculture drives the economy