TRADITIONAL ECONOMY

Found in rural countries

Customs govern the economic decisions

Traditional Economy is used in Vanuatu, Pygmies of Congo, etc.


Facts:

-Defined by bartering and trading

-used by Eskimos

-Women and Men are given different roles

-Centered around the family

Traditional Economy Advantages

Here are some advantages

-People have specific roles

-Security in the way things are done

Traditional Economy Disadvantages

-Technology is not used

-Difficult to improve