Traditional economies are most common in isolated places in Asia and Africa due to limited access to modern markets and technology, which hinders economic diversification. These regions often rely on subsistence agriculture, fishing, and barter systems to meet their basic needs, reflecting cultural practices and communal lifestyles. Additionally, geographic isolation can create barriers to external trade and investment, reinforcing the continuation of traditional economic practices.
The question is nonsensical. The factors of production require the existence of a consistent production, but this does not exist in a traditional economic system. All things that are produced are produced using common materials that are available to all and items are only created when they are necessary - not when a factory owner chooses to produce.
Controlled economies were common in eastern bloc countries.
One of the most common traditional practice of west Africa is the making of animal sacrifices to appease the gods or ancestors. Performing of religious rituals and singing songs are other practices of west Africa.
controlled economies
controlled economies
no it does not everyone knows that
Africa has large quantities of natural resources that include oil, diamonds, gold, cobalt, uranium, petroleum etc. Lot of the natural resources are still unexplored.
Depending on the culture, it involves a ritual. There is hardly a place in the world that modern medicine has not touched and in general the traditional healer exists in very isolated locations. The rituals have one thing in common, the people of the culture bestow the blessing of the god they worship upon the healer.
Unemployment rates doubled.
Dictators promise to improve falling economies
China, South Korea, Cuba, and Russia are countries that are under command economies. This type of economy is common in a communistic country.
Polio is most common in India and Africa.