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Example of Traditional Economy

The term traditional economy as various meanings:

  • A subsistence economy
  • A pre-industrial economy
  • A tribal economy
  • An economy based on traditional inheritance of economic assets

These economies are held to be outside the framework of modern economies like command economies and market economies. They're are also called 'Primitive' economies because they're very similar to the economies of ancient societies. Ironically, one of the basic principles of traditional economies is full employment and the use of all people in the society in community activities, and our per capita efficient on that basis.

Examples of Traditional Economy:

African traditional land inheritance economics
Traditional Native American tribal economics
Australian aboriginal societies