What does traditional economy mean?
Definitions for traditional economy
tra·di·tion·al econ·o·my
Here are all the possible meanings and translations of the word traditional economy.
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Traditional economy
A traditional economy is any historical subsistence economy or one that otherwise falls outside the definitions of market or planned economies. A PURE traditional economy has NO changes in how it is done. Examples of traditional economies include those of the Inuit or those of the tea plantations in south India. Traditional economies are popularly conceived of as "primitive" or "undeveloped" economic systems, having tools or techniques seen as outdated. As with the notion of contemporary primitiveness and with modernity itself, the view that traditional economies are backwards is not shared by scholars in economics and anthropology. Traditional economies may be based on custom and tradition or command, with economic decisions based on customs or beliefs of the community, family, clan, or tribe.
Numerology
Chaldean Numerology
The numerical value of traditional economy in Chaldean Numerology is: 2
Pythagorean Numerology
The numerical value of traditional economy in Pythagorean Numerology is: 6
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"traditional economy." Definitions.net. STANDS4 LLC, 2021. Web. 12 May 2021. <https://www.definitions.net/definition/traditional+economy>.
