Types of economies /Video

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  1. farming, hunting and gathering are done the same way as the generation before. Economic activities are usually centered toward the family or ethnic unit

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  2. The traditional economy has both its advantages and disadvantages:clear roles-unwillingness to accept new roles

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  3. It’s hard to imagine our lives without, banknotes and credit cards.Thousands of years human societies had very simple economies.No employees,paid workers of salaries.
    People who live in a traditional economy don’t have money because they don’t need it.The traditional economy,and there is almost no property.Families may own simple accommodation.For example,every family may need to give some of the crops they grow to the tribal leader.They do it because the tribe has always done it.It’s simply a custom.
    People generally do the jobs that their parents and grandparents.Anyway,there aren’t many jobs to choose from in the traditional economy.Men are hunters,woman’s place is at home.This division of labour between men and women’s another characteristic of the traditional economy.This is because traditional economies have almost no technology.
    Like any other economic system,the traditional economy has its benefits and drawbacks.People consume almost everything they produce and own practically nothing.Was almost unknown in these societies.
    However,people who live in traditional societies are among the poorest people in the world.They have no protection from environmental disasters like drought and floods.They are always in danger of hunger and disease.
    Perhaps in 100 years the traditional economy will disappear


    Рабаданова Зухра

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  4. Traditional economy has its benefits and drawbacks. Benefit- very clear roles.
    Drawback- limited use of technjlogy.

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