Question

Describe The traditional economic system that existed In India​

Answer 1

Answer:

A traditional economy is an economic system in which traditions, customs, and beliefs help shape the goods and services the economy produces, as well as the rules and manner of their distribution. ... Also known as a subsistence economy, a traditional economy is defined by bartering and trading.

Answer 2

Answer:-

A traditional economy is one which doesn't operate under a profit motive.

Instead, it emphasizes the trading and bartering of products and services that enable participants to subsist in a specific region, community and/or culture. Largely, traditional economies are a way of life in underdeveloped countries that rely more on old-fashioned economic models like farming or hunting than on newer-age modes like industry and technology.

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