Home Economics Traditional Economics

Traditional Economics

Traditional Economic System

The most conventional and ancient types of economies in the world are the traditional economic system. Large portions of the world’s financial ecosystem still follow traditional financial system. These areas are rural, second world or third world, and closely united to the land, normally through farming. In this type of economic system, a surplus would be unusual. Every member of a traditional economy has a specific and well-pronounced role, and this society intends to be very close-knit and socially happy. However, they have limited access to technology and advanced medicine.

No posts to display

Latest article


10 Best Matte Lipstick Brand 2020

The life of a man is incomplete without the presence of women. The first woman in a man's life is his mother, the second...
Effect of Music on mental and physical health

Effect of Music on Mental and Physical Health Updated 2020

In the twenty-first century, our life may be simpler by technology but lifestyle modifications can assume especially great importance in individuals with serious mental...

Journey of English Literature From Anglo-Saxon to Post Modern

Special Titles of Famous English Writers Bard of Avon– William Shakespeare Father of English Novel– Henry Fielding Father of English Poetry/Poem– Geoffery Chaucer Father...