Question

Explain the different characteristics of traditional economy

Answer 1

Answer:

Characteristics of a Traditional Economy

Traditional economies are often based on one or a few of agriculture, hunting, fishing, and gathering. Barter and trade is often used in place of money. There is rarely a surplus produced. In other words, most of the goods and services are fully used..

Answer 2

Answer:

Traditional economies up.

• There is rarely a surplus produced. In other words, most of the goods and services are fully used.