Traditional Economy
Storyboard Text
- Hmm... I wonder why this town is so old fashioned. According to the brochure, they run a traditional economy here.
- A traditional economy is a system that bases its actions on traditional customs and history. For example, they don't use money to buy things, instead they barter and trade. Also, they hunt, fish, and farm for food.
- That was a very good fishing trip for your first time, son. Now, we can go to the shop and trade them along with the wild boar we hunted!
- Tourist man: I can see that this town doesn't use any currency to sell or buy things, they just trade everything. Also, it seems like this economy depends on hunted and fished food.
- MARKET-PLACE
- Come and trade your goods for essentials and more!
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- Interesting... This economy also relies on farmers for crops, fruit, vegetables and more!
- Traditional economies usually reside in developing countries. "They are often in Africa, Asia, Latin America, and the Middle East."
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- Apparently, other types of economies overuse natural resources which makes it harder for traditional economies to access those natural resources that they do not overuse. In the worst case scenario, the land is left barren and innutritious, such as the land behind me.
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- And Haiti are two countries that still have traditional economies to this day and age.
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- Bhutan
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