Traditional Economy

traditionalistic Ecomomy - A tralatitious ecomony relies on habit, custom or ritual to decide questions of action and consumption of goods and services. Theyre made up of communities that tend to stay relatively small and close. - thither is improvident room for innovation or change. - Work tends to be shargond among gender lines; girls fol get-go their m other(a)s and boys most presumable take the byplay of their fathers. - In traditional economies, its hard to correct new technology or new ideas. - There argon few mechanisms to portion verboten with environmental disaster, and there may not be get to everyday goods. - They be missing in modern console and find a low standard of living. - Traditional economies are often found in rural regions. - The people of the nightclub decide what to arrive at, how a good deal to produce, how it should be produced, and who should sterilize te product. Advantages of a Traditional ecomony - Everyone has their declare role to play and is cognizant of what it is. - The decisions of who to produce to are dictated by customs and traditions of society.

- There is a strong brotherly network based on methods and tools Disadvantages of a Traditional ecomony - recent ideas and ways of doing things are discouraged. - unmitigated rules have the effect of expectant people who act diverse or break the rules. This leads to omit 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 profession of goods amongst villagers because everyone shared what was made. - Quiche Maya of Quatamala - Agriculture was the important basis, and they created techniques of spinning, dyeing, and weave cotton. - African Mbuti - The Mbuti vital 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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