Traditional Economy


Countries using agriculture as the main basis for food and jobs. These include countries inside of Africa such as Malawi and the Ivory Coast, as well as Asia with Bangladesh and Burma.


It provides goods that only benefit the people's survival and produces only the necessary amount of food so that resources aren't wasted

People already know what job they need to take on and therefore don't have to learn new skills or exert more effort into a job than necessary

Tends to be less destructive as is based on culture and belief, this means that it promotes cooperation and equal chance.

You can satisfy peoples needs without the destruction of nature as it usually focuses on satisfying needs without affecting the environment


Its strength is based on weather conditions and it can determine the supply of food as well as services that can be conducted

Since it's based off of culture and tradition, it's very resistant to change and its difficult for it to learn something new

Its not as profitable as the other economic types and therefore the standards of wealth and living are relatively low

Basic Economic Questions

What is produced?

Whatever is needed for the people to survive such as food and clothing. Usually follows tradition and produces whatever was produced in the past.

How is it produced?

By hunting, farming, or gathering based on the role you have or the role you are given.

Who is it produced for?

It is made for themselves and if it is given out somewhere else, than it usually only goes to one location constantly.


Comment Stream

2 years ago

I really like your visuals and I think you answered the three basic economic questions well.

2 years ago

Nice background and picture slider. Addressed everything fine, except in advantages you say traditional economies promote equal chance, when in reality roles are usually predetermined.

2 years ago

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