Traditional Economy

tralatitious Ecomomy - A traditional ecomony relies on habit, custom or ritual to decide questions of fruit and consumption of goods and services. Theyre made up of communities that tend to stay comparatively small and close. - thither is nearsighted room for innovation or change. - Work tends to be shargond among sex activity lines; girls fol mortified their m differents and boys most plausibly take the byplay of their fathers. - In traditional economies, its hard to accommodate new technology or new ideas. - There atomic number 18 few mechanisms to portion out(a) with environmental disaster, and there whitethorn not be rally to everyday goods. - They be absentminded in modern comforts and find a low standard of living. - Traditional economies are often found in rural regions. - The people of the nightspot decide what to arrive at, how frequently to produce, how it should be produced, and who should sterilize te product. Advantages of a Traditional ecomony - Everyone has their take in role to play and is informed of what it is. - The decisions of who to produce to are hardened by customs and traditions of society.

- There is a strong kind network based on methods and tools Disadvantages of a Traditional ecomony - revolutionary ideas and ways of doing things are discouraged. - relentless rules have the effect of grave people who act diametric or break the rules. This leads to drop of progress and economic stagnation. Examples of Traditional economies - Inuit of northerly Canada - Lived in villages and were a close knit community, there was relatively little employment of goods amongst villagers because everyone shared what was made. - Quiche Maya of Quatamala - Agriculture was the master(prenominal) basis, and they created techniques of spinning, dyeing, and weave cotton. - African Mbuti - The Mbuti stand firm within the rainforest so their get across with other cultures is limited. They have a life style that revolves...If you want to get a full essay, order it on our website: Ordercustompaper.com

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