What are some negative effects of the traditional economy?
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21/12/2022
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Show What is a disadvantage of a traditional economy?The main advantage of a traditional economy is that the answers to WHAT, HOW, and FOR WHOM to produce are determined by customs and tradition. The main disadvantage of a traditional economy is that it tends to discourage new ideas and new ways of doing things.
What is the impact of traditional economy?The traditional economy offers less of a threat to the environment than another market system. People in the economy have conventional occupations like farming, fishing, hunting or cattle-rearing. There is no wastage in the traditional economy because the people in the economy consumes whatever they produce or gather.
What is one disadvantage of a traditional economy quizlet?The disadvantages are the lack of ecoomic and political freedom, shortage of consumer goods as a result of poor economic planning, inefficient bureaucracy.
What is one con to living in a traditional economy?It can get overpowered by larger economies
Traditional economies are small-scale operations, and they are constantly at risk of losing the natural resources they rely on t more larger economies.
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