What is a Traditional Economy? (Easiest Explanation)
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YouTubeHelpful Professor Explains!
What is a Traditional Economy? (Easiest Explanation)
A traditional economy is based on customs, traditions, and bartering rather than money-based trade. Goods and services are typically produced through subsistence farming, hunting, or fishing, and roles are passed down through generations. These economies are often found in indigenous communities and rural societies.
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