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subsistence framing, hunting and gathering
Alberto Hoeger
Wiki User
∙ 11y agoA 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 AdditionA 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.
Examples of traditional economies include certain indigenous communities, such as the Inuit in the Arctic or the Maasai in East Africa, where economic activities are based on customs, traditions, and barter systems rather than modern monetary systems. These economies often revolve around subsistence farming, fishing, hunting, and gathering, with goods being exchanged within the community.
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How do traditional paralegals differ from freelance paralegals?
Traditional paralegals work in law firms or legal departments as employees, while freelance paralegals work independently and are hired on a contract basis. Traditional paralegals may have a more structured work environment and benefits, while freelance paralegals have more flexibility in choosing their clients and managing their workload.
what are competition and self-interest two important forces in?
Competition and self-interest are two important forces in market economies. Competition helps drive efficiency and innovation by encouraging firms to lower prices and improve quality to attract customers. Self-interest motivates individuals to work hard, innovate, and make decisions that benefit themselves, thus contributing to the overall growth and functioning of the economy.
What did the slaves use for traditional remedies?
Slaves often used herbs, roots, and plants for traditional remedies, as well as spiritual and medicinal practices passed down through generations. They relied on their own knowledge, community wisdom, and at times the limited medical care provided by slave owners.
What are the examples of elicited acts?
4 examples of dlicited acts
What are the specific examples of criminal law and civil law?
Specific examples of criminal law include murder, theft, and assault, which are offenses against the state and can result in punishment such as imprisonment. Civil law examples include contract disputes, personal injury cases, and property disputes, which involve resolving conflicts between individuals or entities through compensation or equitable remedies.
What are examples of Market Command and Traditional economies?
A town where every child grows up to do the same job his or her parents did
Traditional economies are also known as?
barter economies where goods and services are exchanged without the use of money.
Where are there traditional economies?
a traditional economy is a substance farming
What are the three main types of economies?
Command, traditional, and market economies
Do traditional economies have one leader?
Yes it does
What is the locations of traditional economies?
Mostly Africa.
Why are there so few traditional economies in the world today?
Traditional economies lead to less economic prosperity than capitalist and planned economies because of the efficiency of industrial production. As a result, people are voting with their feet and wallets to leave traditional economies and embrace capitalism or some other form of industrial economy.
What are the main features of a traditional economy?
An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. Countries that evolve their economies past the traditional level often develop into market economies or command economies.
What countries have traditional economies?
United States of America y Mexico
What countries have command traditional market economies?
many many many :)
The most accepted argument in favor of market economies is their efficiency The argument most accepted in favor of command economies is the belief that they are?
More Traditional
What are some examples command economy?
North Korea and Cuba are good examples of command economies.
