Traditional Economy

By:Jacob Clontz

What is a Traditional Economy?

A traditional economy is a original economic system in which traditions,customs, and beliefs shape the goods and the products the society creates.

How many different types of Economies are there?

There are 4 different types of Economies Traditional, Command, Market and Mixed. Traditional Economy is probably for smaller groups of people or Cultures. Like Tribes and other cultures

Why is Traditional Economy important?

It is important for people that live in small rural area like the arctic circle and in some areas of Africa because it involves traditions and it helps them more than a Economy for a big city or a Wealthy Country.