Social Studies, 02.08.2019 15:30 YoVeoAnime

Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of customaria, a nation with a pure traditional economy (an economy molded largely by custom or religion).

Answers: 1

Show answers

Answers

Summarizing a traditional economy would be done by pointing out the strengths and weaknesses of said economy. In a traditional economy, everyone has a job and there is generally no over consumption or any surplus. On the other hand, a traditional economy generally has no new ideas, the people are poorer and any ideas of change is discouraged, all methods of production are generally less efficient and consumers aren't given any choices.

Answer from: xojade

To summarize the weakness and strength of a traditional economy is to the advantages and its advantages into consideration.

The customs, beliefs, and societies traditions formed the goods and services that are produced in a traditional economy. They determine the rules and regulation guiding the distribution of goods and services and how they are supplied. Traditional economy is an economy that is common among agricultural or rural societies. In a traditional economy, the method use for production or conducting economic activities is primitive. Tradition and convention form the integral part of decision making in a traditional economy.

Simply put, we can say traditional economy is one that is designed in line with the way the society lives. The goods and services produced are based on the people’s living conditions.

However, there are certain characteristics of a traditional economy and this include

Traditional economies are centered on agriculture, hunting, fishing etc. Instead of money, barter and trade is the means of transaction in traditional economies

Advantages of traditional economy

This type of economy keeps things simple It is family or tribe based economy It is focuses on community groups It strengthens the idea of personal pride.

Disadvantages of Traditional economy

Traditional economy isolate individual within the economy. People have few choices Quality of life may be lower It poses specific health risk.

LEARN MORE:

traditional economy and mixed market Economy

KEYWORDS

goods and services traditional economies trade by barter

Answer from: Quest

the secretary of state, appointed by the president with the advice and consent of the senate, is the president's chief foreign affairs adviser. the secretary carries out the president's foreign policies through the state department and the foreign service of the united states.

Answer from: Quest

True. r u cheating on a test. bro not cool.

Other questions on the subject: Social Studies

Social Studies, 22.06.2019 01:30, maddie7417

3. suppose most animals behaved in a certain way. would that provide evidence that it is natural for us to follow their lead? if so, what implications would this have for natural law theory? .

Answers: 1

continue

Social Studies, 22.06.2019 08:30, 130005401

Catherine sat down will all of her income details from the past year to calculate the total income she had in that period. after she created a consolidated income statement, she deducted some tax-exempt income details from the statement. what term would catherine use for this final income calculation?

Answers: 1

continue

Social Studies, 22.06.2019 09:30, ariannayazmin052509

What were some passive/non-direct ways that enslaved africans did to resist slavery?

Answers: 1

continue

Social Studies, 22.06.2019 14:30, ryleepretty

What will most likely happen if tony continues to make late payments? check all that apply. the bank might take his car. the bank will charge late fees. his credit history might be damaged. he might be charged a down payment. he might have to add an asset to the loan.

Answers: 1

continue

You know the right answer?

Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of customa...