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28.12.2022 20:53

Английский язык

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С! for the most of human history, people have used the traditional economy. in a traditional economy things are done the way they have always been done. tools, land and equipment are owned by families and tribes. the basic decisions were made in the distant past. goods and services are produced according to habits and customs. in a traditional economy, the son usually does what his father did. there is a little or no economic growth in such a system. there is no investment in new or more efficient machinery. traditional economy has both advantages and disadvantages. the advantages are: 1.a traditional economy is very stable and people know what to expect 2.everyone has a place in the economy. no one is left out. here are some disadvantages: 1.individuals don’t have much choice in the type of work they do. their roles are based on custom. 2.change comes very slowly. today, traditional economies are common only among agricultural societies in latin america, asia, and africa.