Traditional economy

Traditional economy
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  • That's a great question.
  •  Miss, do you know what a traditional economy is?
  • Traditional economy relies on customs or honored beliefs. Traditional economy has to do with the economic decisions of production and distribution. This economy first started out centered around a tribe or family.
  • Traditional economy depends on agriculture...
  • fishing...
  • and hunting to help the people trade goods to one another, instead of using money.
  • South America was almost a complete traditional economy, before the Civil War broke out.
  • In the United States before the Great Depression there was aspects of traditional economy. Agriculture was 40% of workforce.
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