Economy - Traditional economy

The experimental video in which I tell you about a traditional economy.

All economies got their start as traditinal economies. Moreover, you can find pockets of traditional economies scattered even in developing countries throughout the world. This little information will give you an understanding of how we lived before and how it all started.

These are the important features of a traditional economy:
1) traditions
2) inheritance
3) culture
4) primitive technology/ manual labour
5) a strong social net
6) subsistence economy
7) barter
8) collcetive ownership
9) no competition
10) authoritarian government

#economics

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Видео Economy - Traditional economy канала Эдди Кейт Пипл