Which of the following occupations is not a part of a traditional economy? a subsistence farming b fishing c factory manufactoring d hunting
Answers
Answer:
Societies with traditional economies depend on agriculture, fishing, hunting, gathering, or some combination of them. They use barter instead of money. Most traditional economies operate in emerging markets and developing countries. They are often in Africa, Asia, Latin America, and the Middle East.
Explanation:
Traditional Economy With Its Characteristics, Pros, Cons, and Examples ... Tradition guides economic decisions such as production and distribution. Societies with traditional economies depend on agriculture, fishing, hunting, gathering, ... command, or mixed economies over time.
What Is A Subsistence Economy?
The first of these benefits is that people within a subsistence economic society are often born into their roles in the community. The son of the fisherman, for example, goes on to become a fisherman as well. Under this sort of system, people more often understand and accept what their production roles are. This understanding of production roles combined with the lack of surplus creates a less competitive marketplace. The participants know in advance what resources they will receive for their services.
Another benefit of a subsistence economy is that economic decisions are often made by the community as a whole or by one particular family or tribal leader. Under this system and unlike other economic approaches, the people in the society have a voice in future economic plans.
Additionally, an often overlooked advantage to subsistence economies is that they are less environmentally destructive than industrial markets. This is because economic activities are traditional in nature and do not rely on chemicals or fossil fuels, thus not contributing to water and air pollution