Traditional Economic System
Kimberly, Vincent, Zhenwei, and Abby
Characteristics of a Traditional system
Unlike most economic systems, a traditional system dictates most social behavior.
It stems from ritual, habits, or customs from ancestors.
Traditional economies are often based on one or a few of agriculture, hunting, fishing, and gathering.
Questions to be asked???
Is this economic system a viable place to live? A traditional economic system displays many simple and affordable lifestyle, so it would be considered a viable place to live. Will they be able to find jobs? Inhabitants of this type of economy will have a wide variety of jobs due to gathering food and keeping old customs. Will they find a home? Typically in a traditional economy everyone that is involved helps one another and it's very easy for them to know their place and know what needs to be done, so finding a home wouldn't be all that hard to find. How will they eat? Again a traditional economy depends on one or more of the factors; fishing, agriculture, hunting, and gathering so finding food to strive off of isn't at all difficult.