traditional economy
definition: relies on customs, rituals,habits, and traditions to answer the basic economic questions
- Leave little room for innovation
- These communities usually tend to stay small and close
- People work together to support one another
connected key terms: economic systems | command economy | free market economy


everyday examples
▪ the Amish
▪ buying Christmas trees in December
▪ pumpkins in October
▪ Sentinel Island natives
▪ barter system
▪ Dia de los Muertos
▪ turkeys in November

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