Traditional Economies Traditional economy, an economy based on its name, tradition. This economy does business the way it has always been done, whether its through rituals, customs, or beliefs. As you can maybe assume, the countries (or areas) that have traditional economies are not profit motivated like the Americans, instead they are more about protecting their culture. These economies do not use money, instead they use bartering and trading techniques for products and services. Click on the following link to view more about what a traditional economy is and how and why these economies are created. https://www.thebalance.com/traditional-economy-definition-examples-pros-cons-3305587 Traditional economies decide to make products for the people and civilians they have always sold to (which is usually those with power). Whoever offers the seller is who will get the product. Yes, it's that simple. However, since these economies live nomadic lifestyles,...
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