Traditional Economy

A Traditional economy is one where the original economic system has stayed the same through traditions and customs. Traditional economies are usually found in farm-based and rural areas. They can be found mostly in Africa, Asia, the Middle East, and South America.

Advantages and Disadvantages

In a traditional economy, there are many advantages. Everyone has a determined role based on what they produce. Mostly everything that is produced is essential for survival, such as food and necessities. It is also a friendly environment. They trade with each other for what they need, and everyone is doing so with tradition, resulting in a cooperative relationship.

There are some disadvantages too. Supplies can be greatly affected by weather, since most of them rely on it. It is also a poorer economy, both in wealth and skill.

The Three Questions

What is being produced?

Most of the goods made in a traditional economy are necessities for survival. This includes food and supplies.

How is it produced?

Since a traditional economy is usually farm-based, most of the goods are grown on a farm or made with simple tools

Who is it for?

Everything made in a traditional economy is based off of traditions and customs. The economy is not very advanced, so it is all made for the community, traded with each other for survival.

Comment Stream

3 years ago

I like your layout and the flow of your website. The colors all match your pictures very well. I feel that you addressed your topic very well and informative. It is very organized and easy to navigate.

3 years ago

I loved your pictures and your information was easy to understand